Topic: How Early Is It Now, For Those Who Missed Bitcoin In Its Early Days? - page 3. (Read 792 times)

Most likely, this will be the case, and the main thing will be human fear. It's scary to make a mistake, no one wants to buy now if the price can fall even lower later, it's like the syndrome of eternal waiters. They are always waiting for the best opportunity, the best price, but the truth is that bitcoin could be bought in every bear market and every time it would bring a good profit...

If there's a potential for us then why not for them? Some of us only entered early but it does not mean that we still have our old coins. Of course we already sold it in the past bull runs and now we are looking forward of owning fresh btc's again.

In btc, we will always have a bear and a bull so even if you say that there is a limitation on high btc can get, at least its value can go down which will enable people to buy and earn again once it recovers so don't say that this can be the last chance for the newbies to buy a coin. There will always be more chance but it would be better if they can invest now since the engine of this coaster is about to start.

That's something that should impact the thinking of someone who knows about finance and long term fundamentals of things. Someone who is a newbie would look at the chart, and see that it should be growing x10+ each time a bull run happens, and expect at least 200k, probably closer to 400k when the next bull run happens, and if that doesn't happen then they will think that they were misled.

Unfortunately we are not going to grow that big each time, it's growing bigger meaning the same, or even more money that you put in each cycle, could take it only a certain point. Growing from 1 dollar to 100 dollars was 100x, but it required less money than growing from 10k to 20k which was only 2x.

It only scares away those who don't understand that 10k USD spent on bitcoin a year ago and 10k spent today is still the same 10k invested in bitcoin. It doesn't matter how much you have, the value that you moved to another asset is the same.

If someone bought bitcoin at 10k in 2019, would now have 20k. A person who now invests 10k and bitcoin does the same thing (goes up 2x) will have 20k. I don't get how you can be scared away by this.

There is still potential in bitcoin for new investors to profit from market's fluctuations. We expect bitcoin is going to enter a new bull run on the next years which can boost its price to 100,000$ at least. That means there is a 500% profit opportunity ahead, being conservative on our predictions. Of course this is just speculation and that might happen or not, but that is a pretty consistent opinion among majority of bitcoin enthusiasts, which have been proven to be right on past events related to bitcoin's price. However, this might be the last chance for new investors to adopt bitcoin. We don't know how many rising cycles we are going to have yet. The next one can be the last...

The only thing that makes it difficult for us to profit from altcoins is the large number of altcoins, which makes us not choose which altcoin will provide the greatest profit.
I agree that altcoins are not suitable for beginners because, with many altcoins on the market, they will find it difficult to find the right altcoin.
And this is why we suggest investing in bitcoin; meanwhile, we can learn to find the right altcoin.
Now is still the right time for people who have not joined bitcoin to start buying bitcoin and never feel left out because they are still allowed to buy bitcoin at the current price and keep it for the long term.

Depending on the perception of the investor now can still be considered as early especially if they aim for the long term. Early investors in BTC were considered early because they took a chance on something many people were not willing to do and most especially not sure how long it will last.

It will be the same with investing in BTC at the current price of 19k, lots of people think it is already too expensive and not worth it, but if you are willing to take a chance like the early investors, the story may be the same in another decade. I think people should be more comfortable investing in BTC now than before when the risk was high with so much FUD,  things have changed a lot for this tech and that is enough to build confidence in investors.  

Not literally I know them because they are anonymous but for sure there are a lot of early investors who make hold their Bitcoin for many years and become millionaires. But I think, they are already rich before risking their money in this new stuff which is not their worry to lose their money investing in Bitcoin earlier. I'm not sure if they foresee the future of Bitcoin but I see their trust and feeling towards the crypto market is strong to have that decision.

They deserve such huge achievement and market profit, and I remember these words " rich people become richer while poor people become poorer". They take this opportunity while others are rejected it.

Investing in altcoins is not bad because it is clear that the return it brings will be greater than bitcoin if we invest in the right project. But I think altcoins are not suitable for newbies, because newbies don't have too much knowledge to find a hidden gem that can make a profit. Out of a hundred altcoins, maybe only one can succeed. Even top altcoins if invested in now there is no guarantee they will recover when bitcoin recovers, altcoins are always refreshed every year. Investing in altcoins is difficult to choose, old projects do not guarantee recovery, new projects can bring big profits but riskier.

The real problem is that most people who want to profit by investing in cryptocurrencies have no idea what they are actually doing, which is a perfect path to failure. A story I often hear is that people talk about some altcoins and draw comparisons with Bitcoin in a way that is completely meaningless from the perspective that these new projects have any sense and purpose.

I honestly don't know if I'm more disappointed with all those who constantly create new crypto projects, or with those who persistently support them. Considering everything that has happened in recent years, I would have thought that people would be less naive, but the exact opposite is happening - the same scams, only new names.

I know on severally occasions, I have tried to talk out to my friends about not investing in altcoins but in bitcoin. It does sound to them like water on a rock. Anyway, I don't blame them cos it is in human nature to dream big if they had the idea that their little investment will turn out big in the future compared with bitcoin.

We're saying that bitcoin is the right investment to make in crypto cos we already know what's involved if we invest in bitcoin than altcoin for future purposes. Had it been we do not know how secure our bitcoin investment is, many would have chosen to invest in altcoin over bitcoin based on its price.

There are not so many early investors who managed to save their coins, they sold their coins for various reasons, and these reasons will also be relevant now for those who hold bitcoin, or those who are just now buying. Bitcoin is a good investment for the long term, I don't know how much it can rise to in the future, but it can be a very good investment if you don't get manipulated and don't sell before your goals are met. Moreover, selling at a loss to save your money is a very rash action, and the biggest mistake.

If anyone comes to me to learn about crypto and he asks which crypto can make him rich in 10 years less I would advise him to never get into crypto, because crypto is not a way to get rich in a certain period, but investing in crypto i.e. Bitcoin is another way to invest in addition to the existing one, the best way in my opinion to secure our fiat which is constantly falling in value due to inflation.
When we know bitcoin is not very influential, because usually most people will always focus on the price that is happening not what will be able to get in the long run.

Most people want to become rich as quickly as possible. And most of these people can easily get scammed especially if they have limited knowledge. There is no easy money and there are no shortcuts. People that became millionaires from Bitcoin earned it. It may look easy but it is not really easy. Those people are equipped with knowledge, iron hearts, strong beliefs, and luck. I also dreamed of becoming a millionaire. But how many of us here continue to hold when your half a million dollars turned $60k? It's easy to say but when you're in that situation it is hard as hell. I learned the hard way. So for me, there is no such thing as late because it always depends on us if we are ready for it.

As for altcoins, it's always the bigger the risks, the bigger the rewards. Maybe OP's brother can diversify his money. And only invest money you can afford to lose.

There is no harm in considering other options in altcoins, but unfortunately cannot guarantee the value of the investment, altcoins are more influenced by the reaction that will occur in bitcoin, if the market corrects bitcoin, then altcoins will automatically follow, that's why people prefer bitcoin over altcoins.
Altcoins are generally an alternative to Bitcoin, considering the amount of purchase price cannot be reached by many people and most of the altcoins launched are based on the framework contained in bitcoin. The disadvantage of altcoins has an unstable value as an investment instrument.

It's hard to translate this meaning, the opposite of what I know, that bitcoin will be changed to be more secure than altcoins that are still speculative, bitcoin has the advantage of maintaining investment value, even though it has Bearist and Bull Run periods.
Therefore, the decision to choose bitcoin or altcoin depends on one's convenience. If given a choice, many people will choose bitcoin.

There are opportunities at different times and with different given entries. People can not say they miss all opportunities after so many years.

It is not because they were not known, were not gotten all great prices in previous years. It is because anytime they saw opportunities, they hesitated to take it. And when they had another oppportunity, saw another bull run, they hope to get it again. But time is not be able to reverted and they must learn to take other chances in future

Yea I agree with that mk4

Giving some advice to a newbie where in fact, he shows that he is more superior to him than you who is in the crypto space for quite some time is just a sign that you must leave him with the decision that he wants to.

Giving advice to a newbie is very relieving especially if he is listening on what you are saying. Now if he wants to decide for himself then better let them do what they want to do. Sometimes, making mistakes is the way for a person to learn and this isn't only applicable to investing but in real life as well.

Do what they want to do and let them realize their mistakes once things didn't go the way they wanted to. I mean I want to give advice to newbies but if that newbie already has decided to do something then it will be a waste of time for me to give some advice to him.

Show the charts. Maybe that might change their mind a bit. Show how Bitcoin's price movement is for the last decade. Your brother thinks that altcoins can make him a millionaire because they are more volatile than Bitcoin and maybe he saw some altcoins that moved x100 or x1000, but he didn't saw the risk investing into it. Bitcoin might not make him a millionaire in 2-3 years but over the long run and if he continues to Dollar-Cost Average into Bitcoin then the goal of being a millionaire will be reached. It will not be quick, but it can be reached.

I agree. Some early investors probably managed to hold their Bitcoin for long and became millionaire for having patience but not all of early investors had the same fate. Because often weak investors do panic when the price is decreasing, hence to avoid further losses, selling at loss is their solution to save their money. So even investors who had the chance to buy at cheap price before to become millionaire when the price of Bitcoin reach its ATH, are also probably failed, it's either because of panic selling or they sell after seeing the price increase a bit not knowing it can increase further.

Thus, for op's brother, it's not a reason that the price now is quite expensive than before and it can't make you millionaire since your budget is not huge. Remember that Bitcoin is a reliable crypto and much ahead than alts, therefore less risky even it takes a long period before you can see the result because it's worth it. You can look for altcons that can make you become millionaire in a short period but that hidden gem is really hard to find and requires analysis and extensive research.

One question that people forget to ask is how many of those who bought in early days have actually held on to their coins. We see this all the time, people buy bitcoin at a price like $5000 and when it drops to $3200 they panic and sell their coins. Then after a couple of months when price is at $70,000 they complain about missing out.
Things weren't that much different in early days either. There were a lot of people who bought at $1 but panic sold it at $0.8.

The problem is always the same too. They want to become rich overnight.