Topic: Bitcoin as an overachiever (Read 483 times)

Absolutely, it's impressive to witness Bitcoin's remarkable journey since its inception in 2009. The consistent growth and value it has achieved in just 14 years are truly noteworthy. Bitcoin's ability to compete with longstanding assets like gold, crude, diamond, and uranium is a testament to its strength.

I agree that we're likely still in the early stages of Bitcoin's growth. For those interested, employing Dollar-Cost Averaging (DCA) to accumulate Bitcoin over time can be a strategic approach, potentially contributing to the creation of generational wealth. It's essential to stay informed and consider a long-term perspective in the volatile yet promising world of cryptocurrencies.

Bitcoin's rise since 2009 is astonishing, especially compared to gold and diamonds, which have been there for centuries. That being said, its important to temper this passion with some analytical rigour. Why? Despite its skyrocketing value, Bitcoin is still vulnerable to price drops and legal ambiguity. This doesnt diminish its value; it emphasises the importance of clever investing methods like DCA

Im more interested in how Bitcoin fits into money's evolution. Its more than an asset - it changes how we see and use money. Besides money, cryptocurrencies' decentralisation promises financial freedom and new ideas. Thus, while acquiring Bitcoin may allow families to pass on wealth, its true value may be in its power to revolutionise our financial institutions. Bitcoin is a component of a financial future that will transform everything, not just an investment.

The creation of Bitcoin indeed brings a revolutionary change to the finance institution.  The blockchain technology brings more security and transparency is one of the newest technology the institution is now trying to make use of.  Although government frowned on the decentralize nature of Bitcoin, there is no doubt they are fascinated the technology behind it reason why some countries are trying to issue their digital currency using the technology similar to Bitcoin without the decentralized feature.


I disagree with this somehow.  I do not think Bitcoin is the first thing on the list of investors.  Since we have seen that many are still into altcoin, not saying many are still choosing traditional investment over Bitcoin investment.  Only people who are into cryptocurrency and is well aware of the risk involved in altcoin and knowledgeable about cryptocurrency are the one who have Bitcoin as their first choice on investment.

From what i have read in this topic, i can say that too many people are missing the point, BTC and gold are not in any competition, BTC is not in competition with any asset, not even fiat. BTC is a p2p electronic cash that is permissionless and decentralized, and take note that BTC was designed as a currency, and it is only used as an investment because it is volatile.

BTC and gold are both different, gold is a safe haven asset and also a store of value, so to people who are looking for stability of their funds and a hedge for it, they will buy gold without caring about its slow return on investment. BTC is much more volatile than gold and its price can change very quickly, so it is up to the investor to choose the asset they want based on their desired use case.

Physical assets like gold silver or diamond has created their own reputation over the time of their existence. They have been around for so long that if you go to any corner of the world and ask anyone about them, 90% to 98% of people will be able to answer what they are. But if you look at Bitcoin, you cannot say the same thing about it. But that doesn't mean that Bitcoin is bad or haven't achieved something good. Given the fact that Bitcoin is still young, the thing that it has achieved took others centuries. For this I will say that Bitcoin has outdone itself.
But in terms of comparison, you cannot compare Bitcoin with physical assets such as gold or silver or diamond. Bitcoin has its own reputation and those assets have their own reputation. They are doing great in the particular category. Can we say that Bitcoin is in its early stages? Maybe or maybe not! Only people who are technologically advanced knows about Bitcoin. And when there will be no people left without the knowledge of technology and Bitcoin, I think that will be the time when we can say that Bitcoin has reached its peak. It's going to take some time so now could be an early stage but the amount of people using Bitcoin today also makes it not an early stage. It's a bit confusing but it is the reality.

Speaking of Bitcoin, there have been some very good factors that drive its value, and it will still continue like that until, who knows when? We know that no one can actually tell what the future holds, but in the past, there was much value placed on most natural resources. But these days, the majority of investors are shifting from gold or petroleum investments to investing in fintech like Bitcoin, and since Bitcoin has a limited supply compared to high demand, its value is also high. Again, Bitcoin is decentralized, and the synonymous brain behind Bitcoin is not known, which is a reminder to Bitcoiners that it is meant to be decentralized for the technology to keep waxing strong.

Hmmm, this point caught my eye: we are still in the pre-stage of Bitcoin, and it is too early for the world to benefit from the gold of currency (Bitcoin). Because, if we look, traditional currency is baked up, trade is for stuff, and many other things like gold were and are. Although the discovery of gold was made by the Egyptians in 2450 BC, it is not accessible to everyone in modern times, and everyone knows how valuable it is. But now no one can buy a KG of gold easily, but those people who bought and held gold in the early stages are now happy and are now selling it at a high price. So right now, Bitcoin is also in its early stages, and it is better to buy and hold it. Because those who took Bitcoin seriously and invested in 2010 or even earlier would have taken the profit in 2021, which no one would have taken.

So it means to be mature and think about Bitcoin because you will regret it later, like those people who didn't buy gold at a low price and were unable to make a profit. Because it is the Gold of currency.

Yes, I also make a small investment under DCA in Bitcoin every month, which I get from my signature earnings. And it is planned to sell it in Bull Run and earn profit.

The way Bitcoin has changed its position since 2009, everything else hasn't changed that much to date. The change in Bitcoin price has increased tremendously, and this BTC has been able to gain huge popularity among people. 14 years ago Bitcoin's value and its popularity were not at all but, after 14 years, Bitcoin's position has risen to such a high level that it is known as a currency of choice for everyone. We've seen the price of Bitcoin rise relative to gold at a time when the price of gold was being overtaken by the price of BTC. This bitcoin I believe will go higher in the future and ATH, so people invest most bitcoins for investment and keep their money here to earn.

Bitcoin was a great invention in 2009. We first came to know about Bitcoin in 2009 and since then Bitcoin has created a different kind of discussion around the world. In the beginning, people did not pay much attention to this currency, but gradually this digital currency has transformed into one of the most popular digital currencies. When people think of investing now, the first thing on their list of choices is Bitcoin. Bitcoin has changed its price step by step and the popularity of Bitcoin has increased from year to year. People are now comparing Bitcoin to gold. And those who are planning to buy gold are buying bitcoins instead of gold because what gold could not give a person in 10 years, bitcoin can give an investor the same amount of profit in just a few days. Bitcoin is growing in popularity and will continue to grow in popularity.

When we trade bitcoins we must trade carefully. The money we will trade in Bitcoin is certainly foolish to trade our entire money in Bitcoin. Because Bitcoin always requires long-term planning. It turns out that I invested all my money to trade Bitcoin. It turns out that after two and a half months I needed some money and I was forced to sell the coins that I had in my own trade. Then I will unintentionally face losses in Bitcoin trades. So we should all plan for the long term when we invest in Bitcoin. So that we don't have to sell the traded coins in a few days. What I think is all the money you trade bitcoins. Keep some for your needs and trade the rest in Bitcoin.

I think the expression above is correct and BTC is always there for people who look straight ahead, even though we know it is still in the early stages, it is not impossible, maybe there are those who still have difficulty taking a big position. in a market like now where negative news is always the opening menu. sweet, and investors exchange the value of bitcoin. A day later, speculators took advantage of the opportunity to buy at a discount. Yes. DCA is also a good suggestion for accumulation.

Generational wealth? You know building generational wealth is a long term goal although it's possible with Bitcoin's potential for growth but I think it would be more better when you are DCAing, you should also DCAout a portion of your Bitcoin holdings as the price increases because this can help you to lock in profits and reduce your risk and you can still leave some of your Bitcoin holdings to potentially grow in value over time otherwise, you might not enjoy the fruit of your long term holding.

This is interesting, newbie challenging newbie! You're somehow right, most of this discussion has been discussed long ago but you all are too lazy to search and get answers to your problem.

Hehe, the Overachiever tag, sounds like an achievement in the PUBG, OP TBH your post got my attention because of this keyword. The achievements of Bitcoins are not fewer to any Global asset, or digital brand. In the world of fame, Bitcoin is touching new highs every day. So OP is here to achieve financial goals and enjoy the freedom with Bitcoin accumulation This is not new to hear and it has been aforementioned by many members as well.

Still a pin of motivation for OP, may your journey go smoothly, undoubtedly Bitcoin rally is gonna attract such sort of more topics and i won't be bored to know what as new others think about Bitcoin, their expectations, and stories. Becasue all these days in recent I'm sick of these network fee's topics and posts hehe. A bit complicated and boring in nature.

That's right, sometimes some newbies just want to show interest in bitcoin so there will be topics that make us feel bored because almost everyone knows about it. If we don't like what they say, we can ignore it and don't need to be harsh with them because the forum has no rules prohibiting newbies from posting these things.

But I don't see any sense in comparing bitcoin with gold because gold's hype period is over and it has become so big that it's almost saturated. Meanwhile, bitcoin is still just a young asset and has a lot of development potential. And at some point bitcoin will be like gold, its growth will slow down and its profits will get smaller and smaller as it gets bigger and bigger.

He was just showing his love and interest in BTC and how he achieved things with respect to other commodities and assets that are way older than BTC, but BTC made a great performance. Just to clarify the topic more, the OP could use useful facts or interesting figures, for example, a comparison between gold or BTC, with other assets or securities, or with commodities.

For example, in 2011, the price of gold was a few dollars less than it is now, but in 2011, the price of BTC was not a few dollars less than it is now, and you know that, but maybe many others might not know that. We should be gentle with others and avoid using words that would discourage a newbie from making posts here.
I know this is not something unique or interesting, but it might be for OP and for many other members, and talking about the current market situation, these posts will give some reassurance to your mind that BTC is here and that it will help you achieve things like it did back in the past.

Everyone certainly wants the work they do to earn a high income to be able to meet their needs so that they don't have difficulty in meeting the needs they need, even those who have high incomes are still looking for additional income if they have free time, if we can invest. Of course we have thought about the future so that we don't have financial problems if we are no longer able to do the job.

I agree with you, we must first be able to meet our family's needs before investing, but after we can meet our family's needs we can invest, because we never know that we will have financial problems in the future.

Bitcoin has grown fast and high in a short time, and Bitcoin certainly has many benefits for people who adopted it when Bitcoin was still cheap.

I think before investing in BTC, knowledge must be prioritized and only money that is ready to be lost is worth investing in BTC, and I think before investing in BTC we must have a job in the real world, in essence we must have a regular income every month, so that we can invest. We are in BTC for the long term, it's safer and it would be better if we also had savings for emergency funds because I know many people sell their Bitcoin because they don't have emergency funds, such as selling BTC because they need to pay for hospital treatment, and ultimately a long-term investment.in BTC failed due to incorrect implementation of the system and strategy. The DCA system is very good to use to buy BTC, and many people use the DCA system.

Bitcoin is good investment and the best thing is that it is decentralized no one can control. Gold and diamonds will never compete with each other because gold is controlled by the government if the country's economy is disrupted it will have an impact on them. Bitcoin will not be influenced by anything, individuals will invest in bitcoin independently as day by day demand and supply increases. Bitcoin is a more volatile investment that can provide faster returns while gold is relatively stable but has limited growth potential. Gold is widely used as currency in many countries of the world. Nowadays it is considered as an asset for investment bitcoin is more volatile than gold as an investment medium even if gold suffers, Bitcoin will remain in its place.

There isn't currently a better investment than bitcoin. I don't know about other people, but in my experience, there isn't a better investment that is very portable than bitcoin. You can start investing with as little as you have, so as an investor, you don't have to worry about needing to save up enough money before you start investing. The way things will proceed is that since bitcoin is a model investment and those are natural resources that are well known before our fathers, we won't be here to discuss it or talk about gold or other natural resources with which bitcoin is currently in competition. Bitcoin has become a successful investment.

But there's still something that a lot of us don't get. I have a friend who was introduced to bitcoin, but he changed his mind after learning that it is a long-term investment. Now, he is asking me if it is true that the bitcoin market bull run is now normal. Up until now, we all assume too much that we will expect the gain at that specific time after investing in bitcoin. This is why many people give up when they want to invest in bitcoin.

If it were easy to find a high-paying job, not everyone would have difficulties in life, and people wouldn't have to work hard to find new solutions. We don't need to find a high-paying job, we just need to put in a little extra effort like doing side jobs to increase our income and then plan to invest in bitcoin.

I agree that we should prioritize family life needs over investments, but maybe investing is an opportunity for us to overcome the current situation. Therefore, we must trade off a little instead of always thinking we need stability before investing. Because if we have achieved economic stability, do we still need to invest?