Topic: Avoid Procrastination, Buy Bitcoin And Prepare For The Next Halving. - page 6. (Read 1446 times)

This isn't true, BTC halving doesn't happen every year, to calculate it better you have to use mined blocks and so the block reward gets halved after 210,000 mined blocks. I would not tell people to 'prepare' for BTC halving, it can make them to become desperate or invest for the wrong reason, take note that BTC isn't a get rich quick thing. I will recommend that people buy BTC because they believe in it and know what they are getting into, for example buying with dca years before the halving is a more orgaic approach and with lower risks.

If someone still has to buy bitcoin for me, the best way, would be to invest and buy the same amount every single month, in this way you can mediate the price so it doesn't really matter whether the price goes up or down. There is a fair chance that we may see a new ATH 6-12 months after the halving, there still is plenty of time to start accumulating, guys, you're still in time!

Yea, I was only responding to the OP who said that procrastination is the reason why some people are not taking advantage of the next Bitcoin halving to buy now.

And true, the first investment should be on yourself, gain enough knowledge so you can make informed decisions.

Yea, I was only responding to the OP who said that procrastination is the reason why some people are not taking advantage of the next Bitcoin halving to buy now.

And true, the first investment should be on yourself, gain enough knowledge so you can make informed decisions.

Yea, I was only responding to the OP who said that procrastination is the reason why some people are not taking advantage of the next Bitcoin halving to buy now.

And true, the first investment should be on yourself, gain enough knowledge so you can make informed decisions.

Yea. For those that have the means of investing in BTC are either afraid or like you said procrastinating. There are enormous opportunities in holding BTC and every one on this forum who is knowledgeable about BTC knows this and should take advantage of it.

Actually, we've had a few members here, mostly newbies, who claimed to have borrowed money or taken a loan in order to purchase Bitcoin. It's still unclear if their story is valid or if it was an attempt to seek attention, but despite what it truly was, I'm positive that there are members who actually went ahead and invested with borrowed money. I'm curious to know how it turned out for those people. While I understand and admire their enthusiasm about Bitcoin investing, I find the whole argument extremely risky and reckless. There's a great chance these people lost their money.

I fully get that the halving is due to happen and people are both frustrated and enthusiastic about it, but that's no excuse to disregard basic common knowledge; this shouldn't even be investment advice that you must not spend money that you don't have and can't afford to lose.

Do you think more people use the word 'halving' than 'halvening'?

I know about halvening but I think if nowadays, halving is more popularly used, we should use that term rather than 'halvening'. Two cents.

Interesting when I see Coinbase used both terms in their blog article.  

Coinbase article

Halving (Coinmarketcap Glossary)
Bitcoin Halving (Investopedia)
Bitcoin Glossary of Terms (Bitcoinmagazine)
What is the halvening

The first user used 'halvening' term in Bitcointalk is

The term 'halving' is used about one year earlier, in 2011.

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JayJuanGee, please join What term to use? Halving or Halvening?

You mean it? Well, some people can agree with you, but I don't, and you know why? because you yourself spend over $15 or $20 in a week (even if not in 7 days, before every 9th day is over, you can spend more than $20). Yeah, I think so. Some people are spending even $40, $80, or $100 or $200 in a week, but they have not invested in Bitcoin, not because they don't like it but because of procrastination. They will say to themselves, "I will invest next week," and if that next week comes, then they will give another excuse: "Oh, this money is not enough; I will invest if I receive my salary by ending of the month." That is how it continues with a lot of people until they end up not Investing.

Bitcoin is the simplest investment, with a DCA strategy. Even if you don't have enough money to save, you can decide to save $2.5 for every $20 you spend In a week. $2.5 X 4 weeks = $10. If you form the habit of investing $10 every month X 12 months in a year, that's $120. Although it's small, but it's good to always start somewhere rather than procrastinate every time, while you are spending money every day to buy some other stuffs.

Imagine someone who spends $100 every week and saves at least $20 each week to invest in Bitcoin; that's an investment of $80 into Bitcoin every month. It wouldn't be a bad investment. It's better than not Investing at all. Although no one is to be compelled to invest in Bitcoin, but I'm speaking of those who have full interest in Bitcoin but are making excuses (procrastinating). Even on some platforms, you can buy as little as $5 worth of Bitcoin. You don't really need $100, $500 or $1000 before you can invest into Bitcoin.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

I've such people around me. The annoying part for me with them is that it's not even as if they've tried this stuff in practical reality before condemning it. There's this rave right now in my country with online banks springing up without any physical addresses. Many of my compatriots aren't embracing that, thinking anything online can shutdown any day without any trace. That can be true but then these online banks have been really tremendous with their quick services, better than the physical banks we've. I patronize one of the banks, though not throwing in my all in that account. I rather test something new and innovative than not try it at all and then condemn it ignorantly. This is what many do online, condemning what they barely have an idea of.

Yes what you said is correct and also if someone is Procrastination himself to buy bitcoin in the dip, there are some other factors that the person is considering or facing. Family load, financial issue,  and also the basic knowledge of the person about bitcoin. Because if one does not have the basic knowledge on bitcoin, he has to learn to know more before buying. So with that, he will be Procrastinating to buy bitcoin at all the times. There are some times that the person might have money but family bills would consumed them all so he would postpone it to the next time that he will have money and that is how Procrastination starts.

One thing is certain, those who procrastinate from buying and hodling bitcoin might have their own, individual reasons. It could be lack of finances or budget, or it could be because of doubt and fears that bitcoin will end up as a big scam just like most of the investments online. Well, if they will stick to these, they will continue to miss bitcoin opportunities and may end up regretting seeing those who take the risk have finally paid off and become successful. But those who remain fearful and doubtful will never see progress in their own lives.

I definitely agree with your statement.

Even if the halving is slowly coming, this should not be a reason to disregard the basic rules of investment. If you do not have sufficient resources in order to purchase BTCs as of the moment, never take out a loan to proceed your investment. A risk in itself should not create further risks.

In order to maximize this event, it is recommended that a person should allocate and budget their resources for investments entirely. Like what OP mentioned, avoid procrastinating and investing at the last hour- this is something that should be well-prepared and saved.

There are some people who likes to see physical assets rather than virtual assets as if they can see a real value on their investment and they receive some assurance on where there money gets. It's like buying on malls rather than on an online shop. There's an assurance they can get from the money they get. We are on the time that investments, businesses and most of the financial things can be done online though there are still people who doubt it even though there are many positive feedbacks just like investing on bitcoin. Sooner or later people who planned on investing on bitcoin but didn't do it because of uncertainty or the risk that they are afraid of will make them regret it when the bull market comes.

For sure there are members responding in this thread in regards to a variety of reasons why they might not invest into bitcoin, or making comments about how sure that they believe the BTC price is going to have significant upwards pressures upon it from the halvening that will have good chances of having the BTC price go up significantly within a period of time after the halvening such as up to around a year afterwards.

We likely realize that there are plenty of people who are not sufficiently convinced that the risk to their losing their money is worth the possible upside potential, so if they are not taking actual actions in regards to investing into bitcoin, then they are not procrastinating, even though at a later date they might end up changing their mind merely based on witnessing BTC prices going up rather than having had gotten any kind of greater education of bitcoin as investible asset.

There are a lot of ways that normies procrastinate, including failing/refusing to research into some ideas that they have heard about and maybe they know that they should do a bit of research.. but they procrastinate getting started in to their research, and they also may procrastinate about getting their finances in sufficient order in order that they know about their budget (such as how much free cash that they might have or be able  to have, in order to be able to invest into something new like bitcoin).  Some people have such lack of clarity about their own finances that they cannot even determine if they might be able to invest $10 per week into bitcoin, let alone a more aggressive investment of $100 per week, and surely they cannot even attempt to be more aggressive with their investment into bitcoin or into anything else, unless they figure out enough of their specifics in order to know how much spare money that they have on a weekly or monthly basis.... so some of these people fail/refuse to invest into anything (maybe they have bought residential property or they have a 401k plan?) because they are not sufficiently in touch with their own cashflow or even maybe having enough of a cash reserve that does not continue to end up being depleted into because they may well be spending more than their income allows. so there are many (if not too many) people who might live on the edge due to their own sloppiness rather the fact that they don't have enough income.

Of course, as some members mentioned, there are likely some people who do not have enough cashflow, and it is not even because they are not trying to increase their cashflow, but they are having difficulties in terms of increasing their cashflow in order that they might be able to invest into bitcoin (or any other investment).

Even once any of us might have had gotten our shit together sufficiently enough that we are ready, willing and able to invest into something like bitcoin, we still might thereafter have to figure out how to source our bitcoin - such as getting them on some kind of an exchange, in the event that we are able to set something like that up in our jurisdiction or if we are able to figure out reputable other sources to purchase our bitcoin.... sometimes even if someone we know might have given us a recommendation, we might either feel uncomfortable with the recommendation or feel that we need to research more into that specific recommendation as compared with other options regarding ways that we might purchase BTC.

I do like the topic of this thread because it does potentially touch upon a lot of issues that people have, including some of their reservations and reluctancies that come up from time to time, and sometimes their behavior might be described as procrastination.. especially if they are putting off something that they already realize that they should do.. but sometimes they might not be in a position to do the thing that some of us bitcoin HODLers might believe that they need to do, because first they would likely have to do some other things (whether research or getting their finances in order or other things) in order to actually set themselves up into a position that they would actually be able to act upon something like positive beliefs about bitcoin that they might have.... but they are not quite to the place that they are actually ready, willing and able to act. and they sometimes might not even realize why they are not able to act.   

Sometimes I tell people to just get the fuck started.   Some people have some obstacles in their head that if they are going to invest into something that they need to invest a decent amount, otherwise it is not going to matter... which sure there is some correctness in that, but if they keep considering that they have to come up with $1k or $2k or some higher amount to get started, then they will never start because they are not going to be able to do enough homework in order to get a place to get started, so getting off zero likely has more likelihood of happening if the newbie nocoiner (or low coiner) just starts out really small (such as $10 per week), and then even if they do not get to a more preferable amount (such as $100 per week), at least their having had started to invest $10 per week will get them motivated to research into the bitcoin matter or to pay more attention to bitcoin-related matters - and surely the vast majority of people are not even ready to take some action.. but starting out small should make it a lot easier for people, even though many of us who are already in bitcoin realize that we are still in very early days to bitcoin, and it is likely going to take a pretty long time for people to come into bitcoin and the longer they wait, the more likely that they are just going to be paying way higher prices than the current prices, even if they are able to buy on dips later down the road.

Those who still feel that only online businesses  and cryptocurrency investments are fraught with risk should wake up from their slumbers. Risk is an every day thing and it cuts across all strata. Whether online or offline with physical addresses, risk is there. I've seen businesses get knocked down in demolition for contravening government policies or roadmap and millions of hard earned cash go down the drain. Yet, those aren't online businesses. Those who've made up their minds to pursue online investments shouldn't allow themselves be discouraged by the ignorance of others.

As for procrastination, what's happening now may seem a child's play to those who haven't experienced halving before. They rather get on the bus now or wait and watch price movement once rally commences. It's always a joy to watch how price rallies upward during such time.

And you don't need to force yourself to invest, if you think you're not capable enough to invest or put your assets at stake then don't risk it. I mean you could start by investing at yourself first, gain knowledge and study the techniques then you could apply those with starting in a small amount so if the time comes that you already have the money to invest, then you are already ready. For sure those who have a lot of needs in life thinking about investment, but due to financial need they are more focus on finding a source of money than studying the investment. Also crypto needed to be connected in gadgets since it's digital plus the internet so there's a lot of thing you need to consider before investing.

You only sell when you don't understand the true benefit of actually holding your BTC, during the bear season all big time and both first time investors should be happy because it's actually a prime time to buy as much BTC as you can to hold and wait for the bull market to come. I bought some BTC during the bear market and have been holding it for some time now and I don't intend on selling even if the market dips and thats because I understand that the bitcoin market is volatile.

Well, you may be right, but everyone has their priority. Someone who can barely feed himself will not be thinking about investment, his primary need is food.
So, you assertion about investing with savings is only true if you have enough to spare after meeting your primary needs.

I find it somewhat problematic to suggest that all fears regarding Bitcoin investment are unwarranted. Theres a certain degree of prudence in apprehension, and we mustnt overlook that Bitcoin, as revolutionary as it may be, is still a highly volatile asset. Theres a difference between fear and prudent caution - one paralyzes, the other informs decisions.

To say "invest only what you're willing to lose" is an oversimplified sentiment. A smarter approach is to consider risk tolerance and financial capacity, to educate oneself thoroughly about the asset in question and make an informed decision.

Moreover, classifying people into poor, mid-class, and rich based on their investment decisions is a somewhat reductionist viewpoint. Economic standing and financial literacy arent always correlated. I've seen wealthy individuals make poor decisions and vice versa.

However, I do agree with you on one point - No risk, no reward. But lets not forget that unnecessary risks are as dangerous as fear itself.