Quote from: hero_the_bossman on Today at 11:44:36 AM

Quote from: Bd officer on Today at 11:35:17 AM

Quote from: Tonimez on January 27, 2025, 01:48:44 PM

Not investing in bitcoin even after having the knowledge is sometimes demoralising after realising that the price has left where you met it. Procrastination is a thief of time and works perfectly well in the midst of excuses.

I have always known about bitcoin for long now but didn't know how it worked neither did I get interested in knowing how it works. I got keenly interested in bitcoin in investment last year June when bitcoin was less than 63k when a friend tutored me on how it works. I became excited and wanted to try. But learning the knowledge of bitcoin from a trader is a very big setback on long term investment. I only learned that you can buy and after a while when the price changes to something above your cost price you could sell.

Everything was right but I didn't get to learn that there was more to bitcoin than trading. I sold of the little I had immediately bitcoin rose to above 70k and became skeptical about buying again. Within few months bitcoin crossed the 100k ATH and that was when I realised I learned the wrong way.

Buying bitcoin is not really an issue, but being disciplined not to sell it off in a little provocation. Now, we buy and buy more because I have come to realise that bitcoin is closely a one way project, always on the rise. Learning about bitcoin from a trader is one of the worst hurdle anyone can have in the area of bitcoin investment.

Yes, you won't get the right idea about Bitcoin from a trader. The trader buys bitcoins and sells them at some profit. So if you go to a trader to get ideas about Bitcoin then he will give you ideas about trading. When you invested, if you could have held until now, you could have been in good profit now. Bitcoin will grow in popularity day by day and Bitcoin price will continue to rise in the future. Since you realized you were wrong, you continue to invest in Bitcoin again and hold long term. So you can follow DCA method, which is the best method to invest in Bitcoin.

Both do it for profit in the end.
They just stabilize risk / time differently.

It's true that at the end of the day it's all about the money, but trading is what you should avoid mostly as a newbie, because you are more likely to lose your money then making any as a trader, and it's mostly due to lack of patience and greed that mostly makes traders goes that route.
And one thing you should take note of is that trading can never change your life forever as investment in Bitcoin can do, because if you can accumulate a very good stash of Bitcoin now and hold in like 10 to 20 years time from now, by then Bitcoin would have gone up to a million dollar or more, so it is very clear that investment in Bitcoin can be used to build a generational wealth overtime unlike trading which can even reduce you financially.