Quote from: Merit.s on Today at 04:01:03 PM

Quote from: JayJuanGee on Today at 03:24:56 PM

Even if bitcoin is amongst the best, if not the best of investments, profits are not guaranteed in bitcoin, even if a long holding period can be achieved.

I agree with you that bitcoin investment does not guarantee profits in the long run so that one wouldn't put all his hope in his bitcoin investment as the only means of survival in future, because if bitcoin price goes opposite such person, he will regret it and feel disappointed in life. Which is one of the reasons investing with part of our discretionary income is the best and also look for other means to generate income for the future apart from your bitcoin investment.

New investors should see bitcoin as a long-term store of value and invest mainly into bitcoin in order to save their current funds from inflation so that when they're old, they can be happy that they kept the value of their funds in bitcoin. Profits is an additional advantage for investing in bitcoin and one shouldn't invest into bitcoin only for profits because it's not guaranteed even though, history has proven that the price of bitcoin increases overtime due to constant adoption of bitcoin and its limited supply.

Quote from: sotelorene on Today at 12:08:38 PM

In as much as I would like to say you are right I would also want you to understand that it is not just about investing in Bitcoin on time but rather it is about consistency and determination, there are people who started some time ago but right now they are finding it difficult to continue investing so if anyone should start they should be willing and ready to invest regularly because only then can they have a good Investment portfolio. Lets be realistic here, getting a Bitcoin is not easy for newbie only even some mid or old folks are still finding it difficult to aquire that..., but I believe with good discretionary and exercising all the necessary things ( activities ) will be great in our investment.

It doesn't mean if someone have started his bitcoin investment and could not continue accumulating more, because of some financial challenges. The most important thing is that you shouldn't sell the bitcoin that you have already accumulated but hodli when things are rough with you.

We have talked about many scenarios where an investor should set up an emergency funds because of unforeseen challenges because they will happen or not. Someone that lost his job or is down with a severe ailment will pause his bitcoin accumulation until he gets a job back. At least, he already has some amount of bitcoin in his possession and he is far better than a someone without any bitcoin.

Consistency is very good to build and grow your bitcoin investment with discipline because you have the resources to do so, but that doesn't mean that anyone that cannot be consistent with his bitcoin accumulation shouldn't buy bitcoin when he has a discretionary income, even though he can no longer buy for some period of time due to low pay job. Buying first is a good step towards progress and later, when you have gotten a stable job with discretionary income, you can be consistent and persistent in your bitcoin accumulation overtime.

I totally agreement with you, and that is why it is not good to solely rely on bitcoin investment alone as your major source of income, but yet some persons still do that because they believe that investment in bitcoin will only be profitable, they have failed to accept that it is not guaranteed, therefore other sources of incomes needs to be made available for their daily expenses, and should Incase bitcoin investment goes wrong against or expectations they will have something to fall back in taking care of their lives.

I know a shop owner that sells groceries that just got introduced to bitcoin and all he did was to sell off his shop because he has just found out about bitcoin investment, and I have been telling him that what he has done is wrong because bitcoin is not guaranteed and he does not want to believe .

Having extra source of income will serve as a backup to your bitcoin investment and your life, so that even if the price of bitcoin drops and you have a lesser or no profit at all you will still have where to back to.