Furthermore since 2020, I have been recommending beginners to bitcoin attempt to start out investing into bitcoin anywhere between 5% and 25% depending on their level of conviction about bitcoin, and of course people are free to go outside of my recommended range, and I am also presuming that guys are investing within their discretionary income too, and they are not investing with money that they need for expenses.
I have been involved in crypto currency since 2021. But I was not on this forum then. I had some dollars and asked my friend for advice, buy a good token, he said Bitcoin. Later, one of my favorite students said that Bitcoin has low profit and low loss. So I gave some suggestions to buy Altcoins, they can pump 1000% or 2000%. So I thought that might be good. So I bought a few Alert Coins, held them for a few months and sold them at a big loss. Later, I remembered my friend and he was talking about Bitcoin. And he said that there is no need to monitor the market by buying Bitcoin, you will see after 5-10 years. And he said that if you can afford it, invest only in BTC in small amounts regularly. From then on, I started investing as he said. I didn't know much about it myself. If I had known about Bitcoin before, with the knowledge I have gained by browsing through the various pages of the forum, I would have owned one Bitcoin by now.
A lot of folks get lured into shitcoins, and surely it is better to just focus on ongoingly accumulating bitcoin in an investment kind of way rather than getting sucked into various inferior products that are likely going to need to be monitored more in terms of trying to figure out how to get in and out of them, which largely is a form of trading and/or gambling, since many normal people are not able to trade with some levels of abilities to assure that they are profitable and they are not getting involved with products that have a lot of risk..
Bitcoin is amongst the best, if not the best, investments currently available, so it seems strange that someone would take chances with shitcoins and/or trying to trade bitcoin rather than focusing on accumulating it and formulating bitcoin investment strategies... but yeah, people can do what they like, and yeah, many normies will get attracted into a lure of potentially being able to outperform bitcoin in the short-term and also have pretty high odds of either not outperforming bitcoin and failing to build their wealth in any kind of meaningful and/or lasting way, which bitcoin provides a great place to invest and store wealth and even to potentially build it too.
It's can be pretty easy to get caught up in the hype surrounding all of them new speculative investments, but in all honesty, Bitcoin has flawlessly proven itself to be more secure and a reliable store of value and also a very solid investment opportunity. You're so spot on about the potential risks associated with getting lured into shitcoins and the advantages of focusing on accumulating Bitcoin.
Attempting to trade or gamble on these inferior coins can be a recipe of disaster, especially for those who have little to no experience or expertise, the odds are often staked against such individuals and the potential for losses can be very very high.
The widespread adoption and track record of Bitcoin makes it even a more compelling investment opportunity, and by concentrating on consistent accumulation of Bitcoin and focusing on the long term trajectory of the asset, individuals can potentially build wealth in a more stable and predictable way.
And it's very important for investors to note that the single act of attempting to outperform Bitcoin within the short term could be seen as gambling or trading and could be a major pitfall. A lot of folks often get caught up on the excitement of making a quick profit from Bitcoin, especially when the asset is currently moving in a bullish trend, but the truth is that, it's easier to consider Bitcoin from a long term perspective as it's long term performance is more impressive and it could be considered to be the best option for those who are looking forward to building lasting wealth.
Yeah fr, I get what you’re saying, and it’s so real... When someone starts getting serious about Bitcoin, especially at a young age, it really does mess with your sense of balance. This is the reality, you’re trying to grow financially, mentally, and emotionally all at once, and that is not easy. Especially if you’re in your 20s, trying to build a career "one of the most draining experience", maybe learning new skills, and then still thinking about how to keep your bitcoin growing.
Bitcoin demands long term thinking, and that does not always fit good with everything else going on in life. You start seeing money differently, you stop spending like before, you cut out a lot of short term pleasures, and if in a relationship and your partner does not understand that shift, it can create tension. Not because they’re bad, but because they might not be on the same timeline.
But I also think DCAing / Bitcoin itself grounds you in a strange way.. Come to think of it, it teaches you patience, discipline, and even how to say NO when necessary. That kind of mindset will likely influence every part of life, including relationships. And while yeah, it can be tough, I think it also helps you attract the right kind of people into your life over time. Maybe not instantly, but the ones who value purpose and vision will naturally stick.
That's right. Bitcoin investment sure has a way of taking a part of your life, especially when you decide to get serious with it at a young age and at the same time trying to figure things out. It's just like you've got alot going on in your life and you're trying your best to balance every aspect of your life and still have all the time to focus on your Bitcoin accumulation. It can be intense for real, and it can also be kinda grounding.
Yeah, the DCA strategy and Investing in Bitcoin can indeed be quite a great way to cultivate some great level of patience and discipline. By sticking to a consistent investment schedule, you'll definitely cultivate that long term mindset and perspective and gradually shift your attention away from thinking about the short term volatility of the market, thereby avoid making impulsive decisions. And yeah, saying No to the short term pleasures can be really tough, and it can even be tougher to navigate relationship with people who literally do not share the same vision with you or don't understand your priorities.