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Yes, that's true JJG sometimes they have bigger obstacles in their investment journey, whether it's selling too early or delaying buying.
There are a lot of mistakes that normal people can make, without even realizing that they are falling into a pattern, and there can be a tendency to invest money that you need down the road, and you don't really realize that you have not shored up your cashflow.
Sometimes I wonder why those who bought at high prices sell their Bitcoin holdings at low prices.
It is hard to always know what happened, but frequently if someone invests too much then they are expecting the price to go down and not prepared for it to go down, and surely there can be advantages to the BTC price going down, even if you had preferred for the price to go up, which is buying more when it goes down.
So it can take a long time to actually get ahead of your investment in order that the price is always coming to you rather than you going to the price, so if you just continue to buy in a DCA kind of way, that can be one way of getting ahead of the BTC price, even if it might take 2-3 years to actually get to a point that your cost per BTC is actually less than the current price. It is not guaranteed to happen, but so far anyone who persistently buys BTC, has been ending up getting into profits, even though sometimes it could take 2-3 years before the "being in profits" stage can actually end up happening.
A person who panics, and does not continue to buy but then sells and buys will likely NOT really get to any kind of stage in which his./her holdings is in front of the price.. and it seems such a simple strategy to merely just continue to buy (sure buying on the dip is fine, but buying at any price might well end up being fine in order to keep a person in the right kind of mindset of continuing to build the number of BTC that s/he has in his/her holdings and keeping some faith that that BTC is going to be profitable in the future.. even though it is not guaranteed, it has been a pretty good place to put money and likely to continue to be a good place to put money.
Yes, we know that many of us buy dips and hope that big profits will come our way, but this is only possible for people who are patient and ready to go through many obstacles in their investments.
One or two years can feel like a real long time when the BTC price is moving against you and you might even be feeling potentially wrong about your choice to get involved in bitcoin..and surely whether you keep buying can be a kind of test, even if you might get worried that you are running out of money, maybe you have to buy smaller amounts just to keep some cash in reserves in case the BTC price drops further (from its already having had dropped more than expected).
Yes, it happened to me that I made a fatal mistake in the previous years because I sold Bitcoin to gamble and that would be a valuable lesson to improve so as not to fall into the same hole.
Some people do not learn from their mistakes and they get sucked into an ongoing gambling direction. Some people cannot help it. There are these expressions about "GO BIG or go home" and people really end up practicing those kinds of strategies rather than slow, steady and reasonable strategies and just making sure that their various kinds of extra cashflow and cash reserves are sufficiently stocked so that they won't have to dip into their BTC that is surely at a time that is not of their own choosing and when they might be feeling poor.
Revolution in adapting a new plan and experience is one of the keys to improving the situation for the future.
I am not sure if I would call it revolutionary adapting, but maybe instead just keeping some resolve, and buying a bit more BTC can actually be quite helpful, so there could be ways to do some side projects that might not pay a lot, but the extra money is completely available to buy more bitcoin.. so you might feel good about those little extra stacking efforts, even though it might be stressful to be buying bitcoin at what seems to be prices that are low and could go lower... but you just suck it up and figure out ways to frame your efforts to stack more sats in positive ways.
Bitcoin has brought changes to those who are on the right path to becoming millionaires in the current era. For this reason, the journey of people who got to know Bitcoin earlier might be quite interesting to read about their history.
It is not ONLY the stories of millionaires who are interesting, and surely the ones who were able to bring themselves out of poverty can be quite inspiring, even though they still might be in a kind of poverty, but they end up with more freedoms and abilities to choose their work.
Sure, many folks might consider if they might invest $10 per week and to do that for years and years and years, and after 10 years, they have ONLY invested around $5,200, and so surely there could be some ways to see if their investment is growing, and even if the investment ends up being $10k or even $20k after 10 years, there can be some good feelings that the investment had put them into a better place with more options, even though it might not be fuck you status... and surely after 10 years of persistently investing into bitcoin at $10 per week, there may also be some opportunities that end up coming up in which they might be able to double, triple or even 10x the amount that they are investing into bitcoin without really stressing themselves out any more, and they might even have their lives improving merely from being able to find a place to store wealth that does not lose value and has pretty good chances of increasing in value.. especially if someone is young enough to be able to live 10 years or even 20, 30 or 40years longer, and there can be some guilty feelings too, if you see some of the people who are doing way worse financially (and psychologically and maybe even health-wise) because they did not engage in discipline to invest into bitcoin and to even gravitate towards more aggressive kinds of BTC accumulation strategies in order to NOT lose too much focus on the goals of ongoing accumulation and keeping the coins safe from loss, or getting robbed or getting rug pulled.
As the bullrun is getting closer we shouldn't be taken aback seeing some altcoins doing better all in disguise only to carpet flat after many would have innocent invested their money. I bet that many of the altcoins prices won't be rising along with bitcoin when the bullrun eventually kick start, they rather be doing the opposite. I rather be doing my little DCA holding strategy with bitcoin with the little % from my monthly income while waiting for the bullrun, it better to partake in it with the little you can than sitting on the fence.
That's very certain that many altcoins won't roll along with bitcoin in price during the bull run. Some would have lost their value during the bearish market and the ones that survived it to the bull run won't increase as much when compared with bitcoin.
Every investor in bitcoin can be confident that, before the bull run ends, they will make some profits from their bitcoin investment. As for altcoins, you are unsure which one will provide you with the desired profits because of how unpredictable the crypto market can be. But if you love to take risks on altcoins, diversify your investment in top coins.
Fuck shitcoins. There is no reason to get involved in them, and if you cannot resist your desire to gamble and to fuck around with them, then limit your investment to no more than 10% of the size of your bitcoin holdings and your ongoing strategy should stick with 90% bitcoin.... including any new money that comes in.. make sure you get 90% in bitcoin before getting distracted into shitcoins.. and another bad thing about getting distracted into shitcoins, you are also distracted into dumb ideas.. which may well contribute to your abilities to understand bitcoin as well as you should.
Are you attempting to distinguish between someone who is just getting into bitcoin and investing versus someone who has been investing for a long time? There's a difference.
True JJG, perhaps it is not very appropriate for them to measure the degree of difference in the time they have run in Bitcoin investments. Where early investors or those who have known Bitcoin for a longer time in 2013 of course they can buy at a cheap price. And for new investors or those who known Bitcoin this year they buy Bitcoin at a more expensive price but that only measures the entry level they.
The initial investor's investment journey might be better used as a combination to motivate us in our long-term Bitcoin investment journey. Buy aggressively or instantly depending on each strategy and all they need to do is balance your income and expenses to avoid disrupting they investment journey. I think many of the big investors from 2013 bought large amounts of BTC at cheap prices and they either immediately forgot about it or checked back in 10 years or 20 years. Yes they are billionaires now.
The important point here is to stay in the process and enjoy what we do. Regardless of those who have been in bitcoin for a long time or those of us who are still new to bitcoin, all of them must have their own experiences and mistakes but struggling to continue to correct the mistakes we have made is something that really needs to be improved for evaluation so that we are even better.
Sure it does not hurt to try to get feedback with members who have been around longer, but at the same time each of us has to plow our own path and figure out our own details, so I find it a bit problematic to be getting too distracted into what other members were able to do with even less capital... We have to deal with facts in front of us and sure attempt to learn from others, but at the same time, don't forget that some of the grueling and difficult tasks that we carry out might even be more challenging than some of the OLDER (longer term) members had carried out. $10 per week is not going to work out as well now as it did in the past 10 years if someone had been ongoingly investing in bitcoin at that rate, but if we are ONLY able to do $10 per week, then we might be in our own hero's journey to keep investing at that rate, and maybe even we might end up being more of a hero if we are able to increase our weekly investment amount without necessarily unduly putting ourselves into too much financial and/or psychological stress due to such BTC accumulation-oriented budgetary increases.
Many people are still considering about prices that are considered too high for now and are not willing to start because expecting the time when bitcoin was lower will also be useless because in the end everything has its own time because not necessarily if we know bitcoin from the first time we can also invest well because there will definitely be some mistakes made such as selling bitcoin too fast from the target to be achieved and so on.
Yep some people fail to act because they are strategizing too much and then if they do act, sometimes they are also strategizing too much when they believe that they are going to play the waves and it might not work out very well for them, as compared to just a consistent and persistent BTC accumulation style that may well be a bit less than aggressive, but it is the less aggressive (and maybe even whimpy) style that ends up balancing out so that the person is able to get started rather than putting his/her own obstacles by getting too worked up about buying on dips that may or may not end up happening..
Now we just have to focus on what we are doing now with the process that we believe that bitcoin is worth considering as an investment.
I think so .. get our shit together if it is not together.. or just go over our plans from time to time to make sure that we are employing the plan in a way that is sufficiently comfortable.
Regardless of the time that has happened it will also not be repeated and we do not need to feel sorry for what has happened because after all there are positives that can be taken because maybe if we did not make mistakes before we would not be like now and have a broader view of bitcoin.
Well, 5-10 years down the road, you may end up looking like a genius to those people who might just start to consider getting into bitcoin 5-10 years from now.. or even if they have been considering bitcoin for the past 5-10 years, it may take another 5-10 years before the finally end up acting and starting to regularly accumulate bitcoin, like the probably should have already have had been doing, but they could not figure out any ways to get started, and so the fact that you are started and maybe you have even been acting for a year or two, may well put you way ahead of others, even if your current BTC holdings might not be above water yet.
but it might be possible to make lump sum investments in some other assets, whether it is stock or property or something else (should not be shitcoins unless it is limited to small amounts such as less than 10%) so that your total value is not just in bitcoin and cash.
There's a question I'll like you to lend your thoughts, something about cryptocurrency diversification and since you have raised the discuss I feel I use this opportunity to ask you for a clarification about it to get your thoughts.
Ii read a comment sometime this year that says investing in bitcoin and other altcoins isn't diversification, as in investing in different cryptocurrencies shouldn't be termed as diversification since they are all cryptocurrencies, that an actual diversification of Investment should be in different lines of businesses, example bitcoin and real estate.
JJG, what do you think?
Generally the idea of diversifying accross asset classes is to attempt to achieve some level of non-correlation, and so in the crypto space, they are all dependent on bitcoin doing well, so the shitcoins are correlated to bitcoin, so you likely do not get any advantage investing into any of them. It is like you are adding extra risk, but they are pretty much going to perform in line with bitcoin...and bitcoin is already a risky asset so why add more risk by investing into shitcoins.
Of course, you can do what you want, and part of the reason that I suggest to not put more than 10% of the size of your bitcoin holdings into any shitcins (or all shitcoins combined that you choose to buy) is partly based on the idea that you are likely not getting any extra advantage by exposing yourself to them and then having to study aspects of their ecosystem or attempt to evaluate their claims regarding what they claim to be offerring that may not even be enough to distinguish themselves from bitcoin.
Attempt to remember another dynamic is that for any shitcoin to knock out bitcoin, it is going to need to be at least 10x better than bitcoin, and surely many of them will make claims of being better or providing some other service that bitcoin might not currently provide, but is that 10x better than bitcoin in order to displace bitcoin as some of them make claims to be able to displace bitcoin and to take market share away from bitcoin, even though sometimes they are not really clear about what it is that they are supposedly providing, such as ethereum being a way to pump and dump shitcoins, and is that anything that is actually needed.,
Don't get me wrong,I am not even suggesting that all of the shitcoins are going to disappear in the coming 20 to 50 years, so there will frequently be various kinds of distractions, and maybe that does not really hurt bitcoin, even though it is irritating and maybe sad sometimes, yet a lot of people are going to get distracted into various shitcoins, and it is up to you how much you want to get involved in that nonsense and likely mostly waste your time..
