Topic: I want to fulfill my mother's dream of building a house with Bitcoin. - page 6. (Read 1507 times)

In this case, if it were me, I would start with a real account with minimal funds instead of a demo account. I prefer a real experience rather than just being in a simulated environment because a demo account will not be able to give you real psychology and emotions. If you use a demo account and then switch to trading with a real account, you will still be a newbie. Trading between real money and fake money will also create different psychology, so you will also make different decisions in both cases. Use a real account with the smallest amount of money and use it to exchange for real combat experience.

You're right. Testing the waters is always a smart thing to do as it gives us the idea of what to improve and what to give up. Although some may not believe it, the reality is there are paths that do not fit or work for us. However, that shouldn't necessarily be taken as a negative thing as it also means that there are paths made just for us or it perfectly fits our skills. Sometimes those paths don't are not even part of our initial plan but they eventually make their way on our radar. Nevertheless, there is of course no reason not to try things for the sake of knowing and experience, just ensure that we are prepared for risks and are sure of our decisions and actions as we are solely responsible for those.

Crazy ambitions are only crazy for those who choose to not believe in the posibility of a person. Perhaps one day OP will prove those who have doubts, but it is also never a wrong move to take some of the criticism and opinions into consideration as OP countinues with their plan and journey.

There is nothing wrong with having crazy ambitions in life OP. And if you work hard with dedication then you are going to achieve your dreams. With regards to your plan to trade, start small so you can test if your skills are indeed enough. Test yourself if you are ready including how to deal with your emotions which is usually the reason traders lose money.

And by the way, as mentioned in some comments here, I am also curious about what happened to your quail business. I noticed you haven't made a single response to the topics you created including this one. It was inspirational but you should engage yourself in the topics you created.

Maybe he considers over a period of 1 cycle 4 years, but it depends on how much money is invested into bitcoin? House prices are now expensive so maybe this will not be easy if you only rely on bitcoin investment, there must be other income that can be saved.

The signature campaign is not reliable, it is temporary and better as an additional income but somehow you have to be able to increase your account if you want to join the signature campaign.

Then the OP said he earns from trading for profit, is it not more risky to lose? Because it is very easy to lose money in trading if the OP is not skilled.

Everyone has this desire, to give something in return to his parents, Parents did a lot for us like our education, our clothes, and our food even sacrificed much time for us. Now we are growing up and our parents going to become aged so it's now our turn to do a thing for them which makes them comfortable. Your mom has a dream to live in their own home so now you have to make them a good house where they can live peacefully.
My, suggestion is building a house is very difficult to do and requires a lot of time so I am saying first you need to collect the building materials and when you realize that it is enough then start work on your house this will no make any burden on you and do your investment in bitcoin when goes up it will increase your income and you can easily construct your house   

Bitcoin is now over decade old and is now getting mature with every passing day. The bitcoin investors are now more mature and willing to take risk as compared to 2 to 4 years back. It take time for every new idea to get acceptance.

DCA is more effective when market is down rather when market is up. One need to be careful in doing DCA, as it wont be much beneficial if you keep on buying when Bitcoin price is up.

OP good luck with your efforts. Dream do get true if we try hard in real life.

As you think about the hardwork of your parents that they have done for you so hopefully you will do better than this for your parents. Every child do not think like this and as you are thinking from a little age about doing something special for your parents so this is appreciable.

Bitcoin is a good asset and you can make greater profit from it through investment but remember that don't think about quick profit through trading as those who rushes towards success and do not wait for the better circumstances are always finding defeats.

From signature one can get maximum profit and also by joining different bounties you can earn well but for it you have to do what the bounty manager wants and also you have actual knowledge about crypto market.

Although the future of Bitcoin is still uncertain despite next year and the future halving periods, let's just hope that your wish would finally come true for your mother in spending BTC to build a house for her.

I know how it feels when you've fulfilled your mother's dream. It's a great feeling yes! Let's just hope that we could see another bull run in the future like what we have experienced last 2021 when BTC insanely reached all-time highs of almost $70k.

However, the hype that Elon did back then won't be as the same once another possible bull run happens later on. DCA (dollar-cost averaging) would be your best bet to accumulate Bitcoin when the market is still in status quo as of this time of writing.  

Maybe, in order to justify your parents’ hopes for you and the efforts expended with your education, simply complete your studies, get a specialty and improve as a professional and gradually move towards realizing your dreams? A dream is just a dream because the path to it is not easy and turns out to take longer than we usually expect. Maybe you shouldn’t place your entire bet on just one “horse” and hope that bitcoin will turn out to be a short and easy bridge straight to your dream?

Investing in bitcoin for 4 years, do you want to "get into" the 4-year cycle associated with halving? But in order to hit this particular time frame, you will have to start investing at the beginning of the cycle to catch the peak in bitcoin value. If you make a slight mistake, the investment period will be either less than 4 years or more. Also, take into account the fact that with each cycle the duration lengthens slightly. What do I want to say? And the fact is that having an investment strategy is correct and reasonable, but it seems to me that you don't take into account all the nuances, which for a better result would be good to include as well.

What is your dream? Don't forget about your's too.

You have a solid plan you can manifest if you are dedicated to fulfilling it, trading is hard stuff but since you mentioned that you have enough knowledge about trading it now goes on how you implement it, you can also diversify by offering to teach to people who wants to learn how to trade, you can make Bitcoin out of this.

Everything is possible if you have a plan and dedication, but we all know the market is highly volatile, you must also learn how to address this scenario, it's not always profit in Cryptocurrency so must be fully prepared on how and what action to take in case the market is on winter.

You can build your mother a dream house earlier than four years depending on the market condition.

Don't scare OP about trading, pretty sure that OP knows what he's doing and I'm sure that OP knows the risks involved. I do agree with your second advice though, having a stable job after finishing school is definitely a good way to build a foundation if you're not the kind that wants to be an entrepreneur, creating a career for some people is fulfilling so it's worth a shot plus a stable income means a consistent bitcoin investment. Another overlooked is to not focus too much on creating a goal, practice consistency and remember that it's important to do self-care, what's the point of building a house if you were to die of overwork or chasing the bag. Also, enjoy life, there's more to it than just making money.

Your story’s not so farfetched. Years ago someone had the same idea as you had and just earlier this year he was able to fully-fund a house purchase only using bitcoin. If someone was avle to do it in the past, that’s not ridiculous in my book.

Thing is that it didn’t just took that guy discipline and proper investment strategies to get to where he got now, It also took him dedication to learn new ways to make money in the cryptocurrency world besides conventional means like buy low sell high and holding.

You are your best mentor. Those guys who teach you will only show you this access and teach you the method they have learned throughout the years. They will never show you the suffering and the mistakes they have made in the past. Trial and error. Doing it over and over again by yourself will increase your learning capabilities. When you experience something on your own and make mistakes, you can easily identify that and fix it later on. But when someone else teaches you something, you may think that you are unable to do what they are doing. Hence, you will learn less.
I'm not a big fan of demo account. Because the man thing that comes first when trading is emotion control. If you don't do it on your own and experience how it feels to lose, you can never learn the real thing. Demo asset won't have the same effect what the real asset have. And also while trading you should only use what you can afford to lose. So starting with a small amount with real money won't make that much of a different, and you will learn the real thing. Demo accounts good help but not as much as the real asset.

That's right, it means that trading is really a profession that cannot be underestimated, it looks like it's easy but in fact it's very difficult. Agree with you, in fact those who for example already have knowledge in trading cannot if you jump straight in to start investing and more precisely not only that you have to learn but there are still many and must continue to be consistent so that they can continue to grow. I think it is very careless for those who only have a little knowledge but have entered into investing, well maybe you can't wait to get a profit, but will that way you will be able to get the profit you expect? not necessarily and certainly the chances are very small.

I agree with the statement "if you want to get a big fish then the bait you bring must also be big" this logic is quite easy to digest. Even though you already have knowledge if your knowledge is still small then you will still find it difficult to make a profit there, especially consistently, market movements will always be different and that means you need to learn more. Agree with you, there is nothing wrong if we join in the discussion of a group of people because of course there we will get a lot of references that are very likely to be useful for our trading, take the positives and discard the negatives. And also you can practice your knowledge through a demo account for example.

That's exactly what I said. Op still needs an experience or someone to guide him. Knowledge is not enough to make you a better trader. No one would dare to trade just by doing research and learn a few from trading. With that in mind, what Op also can do is to try things such as joining in group discussion to accumulate different ways/techniques while trading. Aside from that, demo trading can help to practice his skill and try to make use of what he learned.

Dude, your actions are not ridiculous, they are noble actions, you need to know that there are various ways a child wants to make him happy, one of which is what you want to do, I pray that your dreams can come true and your dreams can be achieved to buy a house using digital currency/Bitcoin for your mother.

Honestly, I'm happy to hear that you want to do something nice for your mother, which is basically: so that you achieve all your wishes, do something with Bitcoin, for example: trading, investing and so on, I'm sure if you do any of the things I mentioned and I'm sure in the coming year you will have enough Bitcoin to buy a house.

Knowledge will not be enough to help you make money from trading if you do not have experience or practical skills, because when talking about trading and making money from it we need more than simply theory. Another thing is that people who start trading need to be mentally prepared that they will lose instead of making profits. I have never seen anyone start trading and be able to make a profit from it in the first years, they have to trade time and money to gain experience before making real money from it.

Holding and DCA are better for OP or anyone because they are simple and also provide significant returns.

As per OP, he gained enough knowledge in trading, meaning, he already checked the things he need to know, research has been done for the basic and such. What he needs now is experience and guidance from people who do day trading. Bitcoin investment can be done while doing trading especially DCA, mostly suggested by people as it is one of the effective way to accumulate bitcoin in bear market and while your are learning about trading. DCA will take a long time to see the expected profit, but effective enough for everyone.

As a newbie, starting straight from trading is not the best idea, but you can do it. But I will not suggest doing it because if you invest in Bitcoin, over the time the value will grow and while you learn how to trade the amount you have invested will continue on growing. This is why everyone will always suggest a newbie to do DCA. You keep on accumulating Bitcoin while you learn. That way you get the best of the both world. And as a beginner trader it is not guaranteed that you will always make profit. Even for professional traders, profit and loss is part of the journey.
If you want to fulfill your dream make sure you choose the right path. I'm just giving suggestions. So take the less risky at first and as you move forward the risky path will become easier. I hope this helps and good luck making your dream come true.

All funds cannot be allocated to trading, even if the OP seems to have enough experience in trading, the risks need to be assessed properly, so most of the bitcoin should be put on hold right now.

And with the remaining funds, if there is such a desire, he can try trading, if he manage to make money, then he will be able to increase the trading deposit, and if he loses money, then it will be the loss of only a small part of the available funds. You need to take care of your investments and not put them at risk, especially when it comes to achieving a big goal for other people.