Quote from: Wind_FURY on Today at 06:46:52 AM

Quote from: Jostern on June 03, 2025, 01:10:14 PM

[edited out]

I respect your opinion.
But my actual point is, it won't be me telling people to "buy now" with their whole savings. I already did that with people I personally know and it DIDN'T end as good as intended.
But if you want to buy with everything you have now, then OK. Thumbs up to you ser. 👍

Even if you might have good intentions, you still end up with a pretty extreme reaction in the other direction. So you go from telling them to buy like a crazy man, and then now you say "I am not going to talk about that anymore," and maybe you even say, "I think that you should wait for a dip.. [blah blah blah]."

Yeah maybe we are arguing about nothing, but it still seem that the better of interactions would still be to suggest to people to get started, even if you might also tell them that they have to figure out the details, an dI personally tell them that getting started makes way more sense by starting to buy, and if they are afraid of bitcoin, then to just start out whimpily as they learn, such as $10 per week, even if they clearly would be able to afford $100 per week..and perhaps some later date down the road they can become more aggressive as they learn more and perhaps as they might put some reasonable cashflow management systems/practices in place.

It totally makes sense that none of us should want to be responsible for the decisions that others are making regarding bitcoin, so any of us should mention that they are the one responsible for their own investment, and sometimes we can say either what we are doing or what we would do if we were in their situation, but yeah so many folks may well conclude that we are just pumping our bags, even if we tell them that we don't give any shits what they do. I used to tell people that bitcoin is going up no matter what they do, and so I am not trying to get them to come into bitcoin and pump my bags. I would also say that my bitcoin bags are going to be fine no matter which direction the BTC price goes, yet I would also say that they have to consider the matter from their own financial and/or psychological position and surely it would likely be better for them to get into bitcoin rather than not.. especially after 4-10 years or longer.. and also the disclaimer that there are no guarantees in bitcoinlandia so they have to figure out how much they are going to put in, and I tend to recommend 5% to 25% for newbies, and if they are more bullish then they would lean towards the bullish (higher percentage) side and if they are more bearish or skeptical then they would lean towards the bearish (lower percentage) side.

Quote from: Cossyblack on Today at 07:01:44 AM

Quote from: leonair on June 03, 2025, 09:30:57 PM

No one can ignore the potential of holding Bitcoin, but holding is very difficult for everyone. Because not everyone has the patience to hold for a long time. I have taken the challenge of holding Bitcoin many times but could not implement it. I sold Bitcoin for an emergency or out of fear.

But today I suddenly got a surprise. I started looking for my old Bitcoin wallets on a whim. And I started searching for all my old wallets in my 12 Gmail Google Drive. I found a wallet where I had 0.01 Bitcoin in 2016 but I didn't care because it was a very small amount and later forgot about it.

Today, as soon as I accessed that wallet, I saw the balance of $1050+. I was completely surprised and stared at it for a while. I can't explain how happy I am. I have been holding 0.01 Bitcoin for almost 9 years without knowing it. That's how powerful Bitcoin is. Holding is always profitable in Bitcoin

This is the reason storing of our Wallet seedphrase in a safe location is very important and without it, I doubt if you will be able to recover your old wallet account where your BTC asset was been hold.

I can say your experience in holding Bitcoin over the years has been very productive and profitable as Bitcoin has the best monetary growth among all assets in the world. It's obvious you never plan to Hodl it much longer but the result you got from holding Bitcoin much longer for a period of 9 years exceed your expectations and as such, you might want to Hold it for another 10years or more and I bet the result will be very rewarding as the value of Bitcoin is moving and will certainly climb to $1m.overtime.

In own experience in Bitcoin,I believe no amount is too small to begin with buying bitcoin,from your little earning and after sorting out your basic needs,you can start accumulating Bitcoin using your discretional income while apply DCA and I am certain,the result in holding for a long term is always rewarding and profitable.

Of course, there are no guarantees in bitcoin, and largely leonair came to this thread to tell us that historically he knew about bitcoin, yet he has had inabilities to actually accumulate it and hold onto it, and instead he had continued to consider bitcoin as something to cash out of rather than to hold for the longer term, even if there might have been times that he also had been thinking to hold it longer, but he just could not resist the temptation to sell his bitcoin and so many times he ended up selling way too many bitcoin too soon.

It is quite difficult to figure out if had learned his lesson from his repeatedly wrong behaviors of trading bitcoin rather than building it up for the longer term, and/or if he is going to be able to control himself in the future in terms of figuring out some kind of mindset in which he might be able to transition into a state in which he could hold and build up his bitcoin holdings rather than selling too much of it too soon. Perhaps he has to start out with the mindset that he is not going to sell any of his bitcoin, unless it is a buy and replace situation, and he is going to focus on ongoing building of it rather than selling any of it. That would be a better approach in regards to thinking about having a surprise stash of 0.01 BTC (1 million satoshis).

Surely there are several folks who would consider 0.01 BTC (or 1 million satoshis) to be a very good start in terms of building a bitcoin investment portfolio, and even better if they realize that the BTC stash that they hold is pretty much a windfall, since they had not realized that they had it from earlier times.. and yeah, most likely if the stack was from 2016-ish, then it may well have a cost basis that is less than $50.

When we might discover some windfall BTC stash that we might have in our possession (without realizing it), each of us have to figure out how we are going to treat such windfall situation, and if we consider it as a matter to cash in, since we know it is in profits, or we consider it as part of a base to further build our BTC stash to a higher level.

Even if many oof us in this thread might have had concluded that building our bitcoin stash is the right move, there are a lot of folks who still have not figured out bitcoin and they think that it is something to sell - even prior to having had built up a decent stash. There is ONLY so much that can be done to help to convert guys into a better kind of thinking in regards to the building and/or maintaining of their bitcoin stash.

Quote from: SilverCryptoBullet on Today at 08:02:39 AM

Quote from: Cossyblack on Today at 07:01:44 AM

This is the reason storing of our Wallet seedphrase in a safe location is very important and without it, I doubt if you will be able to recover your old wallet account where your BTC asset was been hold.

Please be more careful with information you write and reduce misinformation or confusing information spreads through your post.

With Bitcoin, a most popular advice is using non-custodial, and if possible open-source wallet. With such wallets, you only have your wallets, private keys, public keys and public addresses while you don't have things like accounts.

Wallet account is a very confusing term that only be true with centralized exchanges and your accounts there. However, with them, you don't have private keys and can not recover your wallets by yourself, so your post does not match this information too.

Even though I understand and agree with your point about keeping self custody rather than third party accounts, there are still some private wallets that allow the creation of sub accounts within the private wallet... so it is possible that Cossyblack was not referring to any third party custody.

Another thing is that anyone new to bitcoin might choose to hold his bitcoin through a third party account, such as an exchange, when he is first learning about bitcoin, and I agree with you that it is better to keep most of our coins (if not all of them) in private wallets, for practical purposes, there still can be some value in maintaining exchange accounts and other kinds of third party accounts.

For sure, bitcoin is more powerful as a whole if more people are self-custodying large amounts, perhaps even 70% or more of their coins, yet at the same time, there are a lot of people/institutions and/or governments who might not be able to easily self-custody their coins, and I am not even proclaiming that institutions and/or governments getting into bitcoin is good for bitcoin, yet it remains an ever growing dynamic in bitcoin, and it could even be a kind of attack on bitcoin to try to proclaim that ONLY third-party custodial arrangements are acceptable means to hold and/or transact your bitcoin, which many of us recognize and appreciate that bitcoin was specifically designed to allow for self-custody and being able to transact directly with others and no one being able to stop such transaction from taking place.