Some people started their BTC journey when things were more hopeless - page 2.

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Quote from: hugeblack on May 17, 2023, 05:46:54 AM

The only thing that creates value for Bitcoin is that people believe that it will have value in the future, and this is what prevents you from selling your currencies even if the price reaches $40,000 because you know that it will increase in value in the future.

Of course, this is true and indeed, faith affects the value of bitcoin. But the same thing happens in the stock market, art, antiques, real estate and the like. The topic of what makes the things around us valuable is very interesting and requires detailed discussion, but not here and not this time.

Quote from: hugeblack on May 17, 2023, 05:46:54 AM

So, if you are hopeless, do not invest because all investment is based on the hope that the future is better than the past, and therefore keep your brain away from pressures and be content with low-risk investments and returns that are offered to you, or buy gold in the hope of preserving your money from inflation.

A little different. It's not that the future is better than the past.

Investments are based on inflation. That is, in the hope of outsmarting inflation and overtaking it in order to maintain the value of their financial assets. For in the future, money from the past is worth less and has less purchasing power. Any investment is aimed at defeating this.

In some countries, bitcoin is considered property. Legally. Just like real estate. Investing in real estate is also associated with risks and is associated with hopes for a future rise in price.

Quote from: hugeblack on May 17, 2023, 05:46:54 AM

Investing in high-risk assets is harmful if you do not know when to stop investing, meaning that you have a clear entry and exit strategy.

If only knew when to stop.

Find such a person and he will bring you all the riches of the world.

Lucius

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Quote from: KiaKia on May 17, 2023, 09:01:39 AM

You are right about possible panic from those that hold a large number of Bitcoin, and that's a bad thing, if panic comes it's going to be helpful, the more those that hold a large number of Bitcoin sell their bags the better it will become for Bitcoin, Bitcoin needs to be circulated instead of some whales holding large number of Bitcoin, so for the short term the panic will cause more dump but for the long term it's better. So What do you think?

The market is free and anyone can buy as much BTC as they want, assuming they have money and can find a sufficient amount. Large purchases and sales will always have an impact on the market if they are public, and what some see as a problem, others see as an opportunity. Because those who invested in Bitcoin a long time ago and still hold would certainly not want a catastrophe to happen that would drop the price by 90% or something similar, but there are also those who would certainly be very happy to experience it.

I personally think that we should learn from everything that has happened throughout the short history of Bitcoin, and be clear with ourselves why we consider Bitcoin to be something positive.

Quote from: KiaKia on May 17, 2023, 09:01:39 AM

If everyone buy Bitcoin at 100$ per one, for how long do you think that the price will stay at 100$? For something that was created to have value as more people buy, this is impossible, many people wont be able to buy for 100$ before it will move on to 110$, 120$, 200$, the more the adoption increases the higher the price will grow.

There is some truth in that, but you should know that even in 2016 the price of 1 BTC was around $400, and in 2015 even around $200 - and that at any time there is a certain level of demand and supply that keeps the price within certain limits. In 10 years, some people may be debating whether the price will stay above $200k or if it will go back to $150k - which means that only the numbers change, and the discussions essentially remain more or less the same.

isaac_clarke22

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Quote from: hd49728 on May 17, 2023, 04:59:31 AM

~

In addition to this, better have another source of income that you can use to invest in Bitcoin. Inflation especially in my country is kinda fuckery these days and depending on the industry you are in, it might not cut to invest in Bitcoin since you would use almost most of the savings in bills.

I would think of finding another source of income if I would go all-in to Bitcoin since the price is fluctuating and considering how economy running these days, every single penny matter.

Quote from: traderethereum on May 17, 2023, 08:42:46 AM

Beginners who are still unsure are because they don't find the right reasons why they should invest in Bitcoin so they don't hesitate to start even when the price of Bitcoin is still at a low price.
Investing in Bitcoin is a choice and if they still don't want to try it, we can't do anything about it but they will surely regret not wanting to try it.
People who have seen how Bitcoin is developing a want to keep investing in Bitcoin, even if they use more money than before because the current price of Bitcoin has not increased.
They feel that this is a very good opportunity and should not be missed because when the price of Bitcoin increases, it could be too late and make them regret it.

Sometimes it is not reason, sometimes it is also the money that they had. If I had not corrected my misconception back in the days, I would have missed everything in Bitcoin plus also on how short I was on money when Bitcoin was like 3-digits only in dollars in the old days.

BitDane

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Just like what Nathan Rothschild stated, "the time to buy is when there's blood in the street". This is taking advantage of the market crash hoping that the market will recover one day. This is what they called contrarian investing[1] meaning the worse off the market, the better the opportunities in the market.

This is one of the investing strategy on a proven cyclical market just like Bitcoin. Bitcoin is the best investment venture for the contrarians because as we observe, Bitcoin is cyclical and they can often apply the ideology stated by Nathan Rothschild during the bear market and take profit when Bitcoin bull market rally. This is why aside from DCA, whales tends to scoop large amount of BTC in a conservative way when market is crashing. They take advantage of the fear of people and panic selling of weak hands to accumulate more BTC.

[1] https://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp

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Bitcoin is unique and those who are scared to invest or don't believe in bitcoin should be left alone,for make their decision. I believe that when they have come to realize the potential of bitcoin,they will hate themselves for not taking advantage of bitcoin earlier,just like most of us that are new into bitcoin are regretting that we didn't adopt bitcoin since 2009.

This is still the best time to invest in bitcoin as the price is dip,after this time we might see a hike in bitcoin price and at this time people with little amount of money will buy very expensive. Fear,is another key factor that is making people to assume that bitcoin might not last. Life is all about taking risk to be successful, when you take a risk and think positive towards your action,this will kill the fear in you and make you have a strong believe in your actions. Believe in bitcoin and don't assume.

Sorry for the departure of your dad.

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Your story OP is really touching, it hits different when you really would like to try things out like in the crypto industry which is the Bitcoin when the people you love fully support you and believes in you. Instead of saying things like you can't do it, they would really give you the push to believe in yourself and follow your guts. Worse part is when the time you succeeded they are gone it's like their mission to guide you is done.

There's no easy beginning to everything, even a talented person without polish won't do enough for you to shine. You'll have to work hard, study and be consistent which can be apply in Bitcoin. If people think they are not good enough to invest in Bitcoin then they are free to learn first. Which is a good thing since risk without knowledge is useless. But in Bitcoin surely there's a lot of opportunities ahead when you invest still do your own research.

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Quote from: Lucius on May 17, 2023, 05:32:49 AM

Most people get a lot of things wrong, so they make wrong decisions because they listen to various "influencers" who tell them what to do and when to do it. Not much has changed in that regard since 2016, which the OP mentions as its beginning, except that Bitcoin was less well-known then than it is today, and the fact that after the big bull run at the end of 2017 it entered the mainstream.

Today there are companies and individuals who own a lot of Bitcoins, but I don't think that this is something completely positive considering that they do not use Bitcoin for anything other than storing value, and that at any moment they can cause panic if they publicly announce that they are selling all or part of the coins they own.

Personally, I liked the time when the price of BTC was only a few hundred $, everyone could buy it (1 whole BTC), and it was used much more as a currency, and not only as an investment.

You are right about possible panic from those that hold a large number of Bitcoin, and that's a bad thing, if panic comes it's going to be helpful, the more those that hold a large number of Bitcoin sell their bags the better it will become for Bitcoin, Bitcoin needs to be circulated instead of some whales holding large number of Bitcoin, so for the short term the panic will cause more dump but for the long term it's better. So What do you think?

If everyone buy Bitcoin at 100$ per one, for how long do you think that the price will stay at 100$? For something that was created to have value as more people buy, this is impossible, many people wont be able to buy for 100$ before it will move on to 110$, 120$, 200$, the more the adoption increases the higher the price will grow.

traderethereum

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Beginners who are still unsure are because they don't find the right reasons why they should invest in Bitcoin so they don't hesitate to start even when the price of Bitcoin is still at a low price.
Investing in Bitcoin is a choice and if they still don't want to try it, we can't do anything about it but they will surely regret not wanting to try it.
People who have seen how Bitcoin is developing a want to keep investing in Bitcoin, even if they use more money than before because the current price of Bitcoin has not increased.
They feel that this is a very good opportunity and should not be missed because when the price of Bitcoin increases, it could be too late and make them regret it.

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Quote from: Outhue on May 17, 2023, 04:32:38 AM

Yet some beginners still doubts, when I see beginners acting weak on Bitcoin, doubting its survival, I always ask them, what about those who invested in Bitcoin years ago when everything was so cold and hopeless? What gave people like that some courage at the time? Now big companies or well-known people are now adopting Bitcoin, that's your Courage there.
(...)

We can't blame other people, especially these beginners because I feel them also before, like I don't know what I am doing or I don't know at the beginning where my money is going if I will buy Bitcoin.
These big companies or entities become my inspiration because if these companies are buying or investing and trusting Bitcoin with a very huge amount of money while I have a very small, then I trust to do it also.

lovesmayfamilis

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✿♥‿♥✿

OP, I don't think we should push and pressure people who don't want to accept Bitcoin yet. Why would you want them to come and invest in it without sufficient knowledge and understanding of how Bitcoin works? But yes, you are right that we know many stories of people who believed in Bitcoin from the very beginning of its existence. Let's remember davincij15, the one who so sincerely advised everyone to invest at least one dollar in Bitcoin. But how many of us have heard it?
Now we regularly see people coming to Bitcoin who regret that one day they didn’t listen to our advice. People grow up in different ways, it does not depend on age. Someone will wake up and realize that it is time for him to change something in his life, while someone else will remain sleeping and living without doing anything new in his life.

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Disobey.

Thanks for sharing some nice and balanced thoughts. I agree on your general sentiment and also regarding the idea that even 0.1 BTC could / would at some point in time be considered true wealth.
However I want to warn a little bit to be too optimistic regarding the short-mid term. Yes, chances are we can see another end of ATH 2024 to mid 2025. But maybe not. The current geoeconomical situation is as unstable as never before. Things are as complex and interconnected as never before. It's extremely hard to make accurate predictions for almost any kind of market these days and nobody knows how exactly Bitcoin will react if indeed a hefty world-economic crises emerges. Yes, Bitcoin could/should be a good hedge, but there is always some unknown variables.
Don't get me wrong, all I am saying is, never go all-in on anything, including Bitcoin.

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Quote from: Outhue on May 17, 2023, 04:32:38 AM

You beginners have no excuses, it is safer to be in Bitcoin now than to be out of Bitcoin, just, Believe, you will lament to have 0.1BTC very soon, now is the time to believe in Bitcoin and HoDL.

you become part of the many people who are living witnesses of the development of the Bitcoin market. quite a lot of my friends have given up and let go of the Bitcoin they have. you have support from your family, it's good for your mental health when you have so much FUD you will hear.
I do not know exactly why I still hold my Bitcoin. or I'm still trading Bitcoins. what is clear is that I have also felt how I benefit from Bitcoin. many newbies are interested in Bitcoin when the market is very good. but many of them also dropped out when the market crashed. those who hold and hold Bitcoin, I think only a small part of the many beginners who come to invest in Bitcoin.

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No matter where the price of Bitcoin goes, how many times it breaks the all time high price, there will be some people who will always be not happy with any of these events. They will always complain that they are late to the Bitcoin adaptation and missed the golden opportunity to accumulate Bitcoins. For them when Bitcoins was at 15k usd, it was “expensive “, and now when Bitcoins are at 30k usd, it’s still “expensive for them. So yes nothing can be done with this type of people to be honest. Kudos to the early investors and true supporters of Bitcoins. Definitely in the next few years they will make tons of profits.

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Quote from: Outhue on May 17, 2023, 04:32:38 AM

You beginners have no excuses, it is safer to be in Bitcoin now than to be out of Bitcoin, just, Believe, you will lament to have 0.1BTC very soon, now is the time to believe in Bitcoin and HoDL.

0.1 BTC is very large amount for some people, I also heard in many podcasts people nowadays are very bad in manage their money, many people don't even save a dollar, how about Bitcoin investment? it's near impossible.

Many young generations are prefer to buy a branded stuff and have a luxury lifestyle to make them looks rich.

They need to learn how to save first, then they would think to invest their money. This make people not interested with Bitcoin because financial and investment education wasn't teached in school.

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I don't think it's necessary to use stories to cajole people into believe and trusting in Bitcoin, I think if you use this method you would have to be consistently convincing them not to fear the market especially when there is little dips hear and there, the market is always volatile and it's a difficult task trying to convince someone about a particular Crypto-currency, and doing so you also making yourself liable to be held or blamed if they actually lose money from holding Bitcoin or any other crypto-currency.

Rather than cajoling people to believe in the investment strength of Bitcoin why not enlightened them about the potential advantages Bitcoin has over other financial system, let them understand that they can actually use Bitcoin to make their financial system easier, and also the fact that they control their financial system using Bitcoin and not under any centralized rules. Also tell them about the dangers, hackers, scammers and the need to be very security conscious. This are the issues we need to discuss more with newbies if the adoption of Bitcoin is to take full effect.

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The only thing that creates value for Bitcoin is that people believe that it will have value in the future, and this is what prevents you from selling your currencies even if the price reaches $40,000 because you know that it will increase in value in the future.

So, if you are hopeless, do not invest because all investment is based on the hope that the future is better than the past, and therefore keep your brain away from pressures and be content with low-risk investments and returns that are offered to you, or buy gold in the hope of preserving your money from inflation.

Investing in high-risk assets is harmful if you do not know when to stop investing, meaning that you have a clear entry and exit strategy.

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Quote from: Outhue on May 17, 2023, 04:32:38 AM

Yet some beginners still doubts, when I see beginners acting weak on Bitcoin, doubting its survival,

There will be doubt always, doubts about bitcoin's credibility, doubts about investing in it, doubts about it's survival and it is normal that there will be more doubts existing with beginners.

Quote from: Outhue on May 17, 2023, 04:32:38 AM

what about those who invested in Bitcoin years ago when everything was so cold and hopeless? What gave people like that some courage at the time?

People who invested years ago had no idea how that time was or was going to turn out. They merely invested because they heard about it then, had doubts that they could overcome and had the means to finance it comfortably to be able to keep their bitcoin investment longer.

Many invested with doubts in their hearts, but not many people can do such maybe because they are not financially strong enough to take such risk or they have more doubts and they are the kind that do not take action with doubts in their hearts, or for other reasons.

Lucius

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Most people get a lot of things wrong, so they make wrong decisions because they listen to various "influencers" who tell them what to do and when to do it. Not much has changed in that regard since 2016, which the OP mentions as its beginning, except that Bitcoin was less well-known then than it is today, and the fact that after the big bull run at the end of 2017 it entered the mainstream.

Today there are companies and individuals who own a lot of Bitcoins, but I don't think that this is something completely positive considering that they do not use Bitcoin for anything other than storing value, and that at any moment they can cause panic if they publicly announce that they are selling all or part of the coins they own.

Personally, I liked the time when the price of BTC was only a few hundred $, everyone could buy it (1 whole BTC), and it was used much more as a currency, and not only as an investment.

un_rank

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- Jay -

There will always be doubters, there will always be late adopters and there will always be those who who would never come around for the bitcoin train. The weak hands in bitcoin is not as much as it was in 2016 or before with many of them moving over to altcoins hoping they give more ROI than bitcoin would.

Quote from: Outhue on May 17, 2023, 04:32:38 AM

it is safer to be in Bitcoin now than to be out of Bitcoin,

Bigger investors does not make the network safer or more secure, it is the decentralization of nodes and the level of difficulty that does.

- Jay -

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Quote from: Outhue on May 17, 2023, 04:32:38 AM

You beginners have no excuses, it is safer to be in Bitcoin now than to be out of Bitcoin, just, Believe, you will lament to have 0.1BTC very soon, now is the time to believe in Bitcoin and HoDL.

You can work, have salary & money, make your savings and use part of savings for your investment in Bitcoin.

You have to do this gradually, accumulate bitcoin gradually but with money from your own pocket. Don't borrow money to buy bitcoin. Don't invest if you need that money for something more important for your life.

Investment is risky so you must afford to lose your capital before you start your investment journey with Bitcoin.

Dollar Cost Averaging is helpful.
https://dcabtc.com/

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