Topic: Investment decisions - Don't be Driven by the investment results of others (Read 129 times)

Investing is a personal journey and it's crucial not to get moved by the investment results of others when making your own investment decisions. Observing and learning from the investment results of others can indeed provide valuable insights that help shape your own investment goal and strategies. By analysing different approaches and outcomes you can refine your strategies to align with your sole financial objectives and risk tolerance. Each individuals financial situation, risk tolerance, and investment aims are essential, so what works for one person may not necessarily be the best approach for another. It's essential to conduct thorough research, understand your own financial objectives, and make decisions based on your personal circumstances rather than following the crowd. Staying true to your investment strategy and remaining focused on your long-term goals can lead to successful investment outcomes.

Are testimonials not for the purpose of convincing people? what do you expect??

When you hear success stories about people who invested in bitcoin and have had a change of life, you can get motivated believing that your own success story can also come in the same way, and  I do not see anything wrong in that.

Success stories have made many persons who invested in bitcoin and have started nursing the thoughts to stop hodling and investing to reconsider and have a rethink about their decision.

In human life another achievement make people to study hard and work hard to also achieve theirs. But before your do all things to become rich because the other is rich you too must rich, things are not done in tht way because you don't know weti the person dey do dey get money.
Do a diligent work and get money. And if the money reach to do investment in bitcoin after removing di bills then you invest in it and continue working to sustain di investment.

This happened for the first timers as well as the newbies that never knew how crypto movement works, it's not their fault to think that way, never blame them brother, I felt the same way when I started following crypto 2016, whoever knows and experience when Bitcoin moves from $15,000 to $70,000 this year will never, never never panic and sell it off to be honest, isn't it shocking, doesn't it seems to be working that way, what do you all think about this, it works and profits holders especially the oldies.

This market is for the strong, and those that can stay hungry for long term, this industry is never is child game, I held someone's funds in crypto and they disturbed and worried me to withdraw out their crypto saying they are hungry. They can't be like me because they are new while I'm already in the game for long, so never blame those giving up.

Bro you talk better words because people or humans as we be dey always get extra motivation from other people success and it's just elevates us abit actually telling us there is possiblity to what we can achieve since the next man just like you is also doing it but all where this mentality goes wrong is when we also fail to assess the risk and all that this particular person has put into to actually make such success.

I'm in support of following trends especially when I've my personal goal towards chasing an interesting but when we talk about a strange development especially on technology, we really need to be sceptical because we can't explain too confidently on how the system works.
Actually those who could take the risks and invested on bitcoin when it was newly introduced could be People who have spare money to to face the risks and not those who have their last cash with them then.
Disputing this on Nigerians, maybe I'll just say we didn't have such knowledgement that there could be such exist able digital currency due to our undeveloped minds then.
Now that we're fast advanced on knowledge, I believe many of us would be able to beat other advanced technologies other than bitcoin investment because we've understood that the era of the world is on its advancement so we're expected to believe anything is now possible unlike how we've wanted others to take the lead and then we follows.
Normally a risk bearer mind fears no risk to invest on any opportunities but are likely careful not to lost their funds.

On my own opinion, it's quite normal that most investment decision of most investors are driven by the past experiences of others, because it's very difficult as an investor to venture into a path you knows nothing or you are not that certain on how your investment will play out, though you rightfully argued that what about those that start it, are they not humans? 

Yes it's true that they are humans like you and me, but before anyone venture into a part like that which he doesn't know how his investment might play out, just know that, that person has the financial leverage to do so, and most times, they do it with an amount they can afford to lose, that's why they are always rewarded handsomely, for being the first, because it's not easy to take such a risk, but logically, it's very stupid to invest heavily on an asset that has no history, which you as an investor isn't sure of your returns or even your capital, so in essence of all this is that making investment decision base on the experience of others is a normal thing to do, because history is an important factor that helps you navigate your way easily in what you invest in.

There is no part of the world where people are not motivated or inspired by the success of others. Slef determination to achieve anything comes from the burning desire in knowing that if others can achieve it then nothing stopping you to achieving yours.

Let be realistic, If the first pioneers or investors of bitcoin didn't make success in their decision to invest in the coin I don't think we all will be willing to invest today. It was their maiden success with the coin that gave the attraction of people like us to start investing because we have started seeing success made from it. 

In this part of the world, the majority of people are only driven by the investment success stories of others and not the actual starting point of the investment. This is a common behavior that most people exhibit, as they only make investment decisions based on the possible outcome of others. They actually do this as an act of been cautious with what they put their money on, but Trust me when I say this is not a good idea.

The introduction of Bitcoin in 2009 is a practical example. They were lots of people who came across Bitcoin in its early days, but didn't make any purchase as they find the project as something too unrealistic to succeed. While others were sceptical, as they prefer to wait for the possible outcome/results from others before making their decision.

When relating this to Nigeria, we can say that people tend to follow trend, but I sometimes ask myself: "are the people who started the trend not humans?". The problem of facing trends has literally left so many with nothing, because the more any investment project gains attraction, the more difficult it is for others to key into and make profits. This is clearly unlike the early adoptors who takes the risk in joining the project.

Why do people do this?

• Risk factor
• Sceptical

The main reason why so many people make investment decisions based on the outcome of others is their fear of taking risk. We should understand that every fresh project does not guarantee a successful future even if it is stated on a white paper, memo or any other written document. The ability for someone to believe in that project is already a risk attached.

The other reason why people do this is because of been too sceptical. They sometimes have the funds to invest, but they just see most project unrealistic. Bitcoin has grown this far, but we all know that Bitcoin didn't start with a price of $64K. They were people who find it very difficult to believe that Bitcoin would even reach $10K, which made convincing them very difficult.

Consequences of such actions
There is only one consequence I could come up with, which is Being left out. Being left out might not sound harsh, but trust me when I say it has further consequences such as poverty, regret, etc. By waiting for the possible outcome of other people's investment, we might end up been left out. This is why it is ideal to invest what you can afford to risk.

Is there still a chance with Bitcoin?
Looking at the current price of Bitcoin today, most people must have given up, as they have this mentality of been left out already. They make this common mistake of thinking about the present, and losing focus on the future. Bitcoin is a digital currency for the future, which makes every minute and activity very important. Whatever investment we make now, will surely have a reflection in the future as long as the adoption rate and other factors keeps increasing.

To the question, is there still a chance with Bitcoin? - The answer is YES. We've seen enough positive results over the years, so there shouldn't be too many questions in choosing this investment part. 5years might be a very long time, but trust me when I say: it's worth investing and waiting, rather than waiting for the outcomes of others.

Take note
Before making any investment decisions, thereby taking the risk, it is important that you make research on where and who is organizing that particular project, so you won't fall scam of money theft. Asks questions, but don't let people's personal opinion make you decide. You should understand if it worth your risk or not.


This is totally base on my own opinion, you should do your own research before making attempt