You don't have to have it all before you start your Bitcoin accumulation journey, all you just need is a source of income where you can be getting your discretionary income from, and it's through there you invest from, so you don't necessarily need to have it all before you start, along the line you can work on a way to improve your finances so that you can be more comfortable while investing.
I get pissed when some people don't really get this things straight although I know that it could be as a result of ignorance, Bitcoin investment is for everyone no matter your financial status but the most important thing is to have something that you are doing that fetch you some money to sustain the investment constantly no matter how small hence you are kind of investor who will want to do more once you double or triple up your source of income, I think people don't understand why it is very necessary for them to start first, our mindset can be an obstacles to us concerning our investment plans, so if we can break out from such obstacle of mindset that always tell us that we can do it then we can start from their to get to somewhere, the ability to start graduates us to the next level, why will one even think that he has to get to a certain level of financial stability before he can actually invest, I think such person may wait forever if he don't rethink.
Most people fail to understand that it is a long term investment and it’s advisable to start small no matter how little and they will be amazed at their portfolio , the year is running so fast , time wait for no one , but most people allow their mindset to limit them by believing one must be financially stable forgetting that with the little you have , one can start from there , if you are waiting for one big contract before you can invest , before you know it 1 or 2 years has past by them you start regretting why you didn’t start small with that your discretionary income , it’s better to start small than regret tomorrow while waiting for a big amount to start with .
I would support the fact that starting small is better than doing nothing at all. Many people understand that investing requires investing a lot of money but it can also be started with a small amount and it is very valuable even if you start with a small amount. However, whether the investment is small or big, it is better to start investing with a little understanding of the investment, market volatility and investment goals.
Suppose someone has started investing a small part of his income every week. Even though the investment amount is very small, when that person continues to invest slowly, if the market suddenly falls, he will face financial losses. Although this financial loss is very small, if there is no proper knowledge about this matter, the small financial loss will create a reaction in him. As a result, he may decide to sell. Those who we see buying today and selling tomorrow and continuing to invest are basically these small investors. They have not prepared themselves about the market situation and financial risks, so even a small financial loss can have a big impact on them. As a result, he cannot continue with his goals.
On the other hand, another person is also investing a very small amount of money every week but he has started investing with knowledge of investment and market volatility. In this case, when he continues to invest and suddenly faces a market decline, he will not be upset. He will see it as normal and believe that the price will rise again and he will remain steadfast in his long-term plan.
Whether the investment is small or large, a conscious investor has long-term goals and does not react to immediate emotions. Small investors who can start investing with their own knowledge and make the right decisions over time are the ones who achieve great success at one time.
You make good points about the size of the investment can affect emotions, and emotions can affect doing the wrong thing, such as selling when a person probably should be buying.
Whether the investment is large or small should not make a difference if a person is in a correct mindset, and frequently, if they have some amount that they are investing every week no matter what then maybe they can put themselves into a better mindset by telling themselves that they are buying no matter what every week for 4 years or longer and then at some point (perhaps close to 4 years) they will reassess where they are at and whether they need to change their strategy.
First off is their anything like late entry in Bitcoin investment, I think the answer is no, yea people might have made the mistake of not investing in Bitcoin when they are supposed to buy that doesn't stop them from investing anytime what matters now is their ability not to keep waiting and wondering about, even though Bitcoin price touches down to $200k as you said those that couldn't by then may still want to buy because they now understand better that what they are actually looking at is not the immediate price rather it is the future that matters, at any point in time, anyone can actually invest, if those that couldn't invest at a low price keep giving themselves excuses, them just know that they weren't actually ready to invest but as for someone that has learnt his or her lesson I think there's nothing anyone will tell him to deter him from investing in Bitcoin even when the price is high.
When bitcoin touches $200k, $2 million and/or even $20 million and higher, anyone who happens to be a no coiner or a low coiner at that time, has no choice, except to buy bitcoin in order to prepare for up and to save their value in something that holds or appreciates in value... otherwise they are not prepared for up... so yeah, it is too bad if they had not actually prepared earlier.. but that is likely the way that we are going to continue to go in regards to bitcoin.. with the low coiners and no coiners continuing to have to buy at higher and higher prices in order to change their status into being an actual coiner, which it likely where many folks are going to need/want to be, at some point, sooner or later, especially if they want to build and/or preserve wealth rather than having to always be working to get money and their savings not sufficiently holding value.
This leads to me asking this question, do you ever thing bitcoin can rise so high that it will hit $20m in the future, whats the guarantee and how can one be so confident that bitcoin will not loose before it rise so high?
Of course bitcoin can go to $20 million in the future, since that it is merely 200x from today's price... and yeah it could take a bit of time to get up to such a price, so I doubt that it is anything that any of us should be overly reliant upon.
There are no guarantees in regards to the future, and yes, bitcoin could go down rather than up, so we can merely consider various aspects of bitcoin and what is bitcoin's addressable market.
I would suggest that bitcoin's addressable market is about $1 quadrillion in value, yet bitcoin's market cap is about $2 trillion, so that means that bitcoin is about 1/500th of its current addressable market... so yeah, it could take 50-200 years or more to reach it's total addressable market, and there could be a lot of volatility along the way, and bitcoin could even break at some point, so of course, there are no guarantees.
When considering bitcoin's upside versus it's downside, you may well need to consider various possibilities and even assign probabilities to each of the various probable scenarios, as
I attempted to do in December 2021. There is nothing that is 100% and we merely would be trying to assign probabilities within our own conceptions of the world, and others might not even agree with us, and we might even change our mind about some of our own probability assignments at some later point down the road.
i also have this believe as a matter of time, bitcoin will soon get a competitor that can be able to compete with it which can give people an alternative to go for the coin instead.
Of course, you can have whatever view of the world that you like and assign various probabilities to such scenarios playing out.
One of the mistakes that people make about bitcoin is failing to recognize and appreciate its unique contribution in regards to investing/discovering a way to assure digital scarcity, and so it had more than a whole cycle before the various shitcoins tried to provide comptetive products, and even the products that came out were way inferior to bitcoin, and even some of them that might be superior, they were not superior enough.
Generally speaking with a protocol level kind of invention/discovery, any competitor would need to be 10x or more better in order to displace the incumbents, so it is hard to imagine any better competitor when bitcoin is already more than 10x better than gold and also more than 10x better than fiat, so bitcoin is in the process of displacing gold and fiat...
Even though I agree that it is possible for something to come along to displace bitcoin, yet it still seems so hard to imagine such a thing coming along, and even if there were a better competitor, there would be nothing stopping any of us to migrate over to such better thing, and they currently do not exist, especially dumb-ass proof of stake scams.
just like the bitcoin became an alternative to the fiat. the fiat was what we knew for ages before the coming of bitcoin, I am scared a time will come bitcoin will lose its value once it has a very strong competitor.
Even if you have valid fears, such fears should not stop you from investing in bitcoin today, especially if you have already identified bitcoin as the best and that is asymmetric information that an overwhelming majority of normies still do not understand. You do seem to be having trouble believing that bitcoin is the best, and that is largely going to hurt you, but so what? each of us has to learn at our own pace, so some folks take longer than others, and sure it is possible that some of us who are believing in bitcoin are wrong in regards to our beliefs.
i know what I'm saying is not what will happen now or in the nearest future (maybe after the people of our era cease to exist, I don't know) but there will come a time when bitcoin will no longer be relevant or so highly valued, are experts already looking at that future and what are the alternatives?
It sounds that they are distracted into irrelevant bullshit.
One of the most important things right now today is an amazing invention/discovery called bitcoin, and an overwhelming majority of the world's population do not know what the fuck it is, and for that reason there is an asymmetric bet to the upside in which those of us who are investing into it now are likely going to be greatly rewarded for our having had gotten in on it early as compared with the rest of the world's population who are going to be forced to come at a later date.
If something comes in the future, then we can cross that bridge in the future, yet for now, if we are even trying to stay focused, we should be accumulating as much bitcoin as we can without over doing it.
But, yeah, whatever, you can consider and wonder about various alternative theories/assets, and even sucked into investing into various shitcoins. That's your free choice, even though you know about bitcoin, you want to be smarter than everyone else, so you go ahead and find your project that is going to be the next bitcoin .. but not only bitcoin but bitcoin x10.. blah blah blah.. There is no such thing.. .at least not yet.. and if one comes along, we can cross that bridge at that time.
The majority of newbies, in my opinion, are unable to see the significance and effect of Bitcoin's potential and the need to have trust in its sustained rise. As a Bitcoin investor or evangelist, I must first state that you must acknowledge and embrace its ideals before making an investment. I suppose the first thing an investor should think about is that. You also mentioned that it's crucial for investors to have a strong faith in Bitcoin, believing in its future growth and realising that it's preferable to choose long-term growth over short-term gain when it comes to Bitcoin investment.
your faith in bitcoin is more like the prerequisite thing that
This is a good point adultcrypto since we don't need to have faith from the start and we could even be somewhat bearish, and in some sense, if we try to figure out our position size in accordance with our level of doubt or our level of bullishness, we can adjust our position size to become greater in the future if we become more bullish in the future.
This is very correct. Human mind works in away that whatever you set your focus on, you unendingly expect it to happen at that extent or more but nothing less. The level of faith/expectation placed in bitcoin is the driving force to how dedicated and disciplined and investor would be while engaging in his bitcoin investment. Being bearish would allow you lower your expectations and when it turns bullish, the joy would be stronger. But being too bullish in your expectations may expose you to investing beyond your capacity which would also make you unable to hold for long.