Topic: The misconception when buying/investing in Bitcoin (Read 443 times)
@Slow_death We can’t also ignore that the price was at one time above $60k but now it came down to $47k. It’s difficult to spend the money that you hardly managed to save holding onto the asset which is highly volatile just to know in the end that the price has dropped significantly.
when someone says bitcoin is expensive it is something wrong.
I do not think it is wrong, bitcoin is actually expensive but that is when you want to acquire it in one's but what many are yet to understand is that you do not have to own a full Bitcoin before you can actually own Bitcoin. You can steadily by in fractions until you have own enough to be comfortable with your investment.
Many people rush to buy one whole Bitcoin and when the market volatility comes they panic and sell. You can avoid this be steadily buying in fractions that way, you will get comfortable with the market and with time you can have more money in Bitcoin without panicking not minding how the market is moving.
BTC is for the community not for specific class that's why it has seen so much growth in 12 years.
Well if you are honest, Bitcoin has gained so much in the last few years because there have been huge price increases, on the one hand due to wild speculation and on the other hand also because the wealthy has increasingly entered BTC. Bitcoin has not gained so much because there are many from the middle or lower class who see it as a tool to rebel. Such idealistic people exist, they are also the ones who carried BTC in the early days and in difficult times, but they are in the minority overall.
Bitcoin was introduced to me on 2013 but I started when the price is $15k per btc on late 2015. Since I joined I've been kept telling myself that if only I joined my friends 2years ago, maybe my life was more comfortable now because all I see is the price of 1 whole bitcoin and not knowing that I can still buy bitcoin with just a small fraction and use it to invest and make some profit.
Most misconception about buying or investing in bitcoin is that the more bitcoin you buy, the bigger profit you have. But that's not the case because even if the price will increase 60%, everyone who have bitcoins will have their own share and no matter how big or small bitcoins you have, you still have the fair share of increase.
Most misconception about buying or investing in bitcoin is that the more bitcoin you buy, the bigger profit you have. But that's not the case because even if the price will increase 60%, everyone who have bitcoins will have their own share and no matter how big or small bitcoins you have, you still have the fair share of increase.
when someone says bitcoin is expensive it is something wrong.
The term is relative, is how I see it. Depending on how much a person can spend on investment options, it has been and will be expensive.Quote
Years ago when the price was $1000 there were also people who said that the price was high, but today the price is at $47000. we can never think that the price is too high, because nobody knows what the maximum price can be, nobody knows. what each person should do Is invest at the point where they think that when the price increases they will make a profit
Not many people want to put their hands in crypto. A lot of reasons are there for this. Not everyone can take the risk of owning unregulated asset classes, when governments are not being lenient about them. After all they need to sell at some point and have exit strategies when it comes to purely trading.Even if you are hodler of bitcoin, you will need to sell at times - these things need to be clear for the professional traders and this is lacking in many countries.
However I do see changes happening so I am hopeful about the situation and maybe then the conception will change and people might want to start accumulating bitcoin in fractions.
when someone says bitcoin is expensive it is something wrong. Years ago when the price was $1000 there were also people who said that the price was high, but today the price is at $47000. we can never think that the price is too high, because nobody knows what the maximum price can be, nobody knows. what each person should do Is invest at the point where they think that when the price increases they will make a profit
Well, they're not wrong though. Even when I first came and $1000 was not yet the achieved price at the time (the ATH was 1400 but this was in 2014 I guess) I felt it was expensive. The average salary for most people in most parts of the world does not even meet that amount, and majority in Africa and Asia even earn less than that in a year.
I agree,,, price is not too high and not too costly to enter at any given time but we all cannot deny it is "expensive".
when someone says bitcoin is expensive it is something wrong. Years ago when the price was $1000 there were also people who said that the price was high, but today the price is at $47000. we can never think that the price is too high, because nobody knows what the maximum price can be, nobody knows. what each person should do Is invest at the point where they think that when the price increases they will make a profit
Indeed we should not tell other people how many Bitcoins we have, because if we are found out having a lot of Bitcoin it is likely to be
the target of scammers. So I'm sure there won't be many people participating in the poll created by the OP. Then we should not be discouraged
even though we cannot afford to buy 1 BTC, because there is no need to buy 1 BTC to be able to invest in Bitcoin. It's true what you say,
we can buy Bitcoin in fractions according to each financial ability. Therefore Bitcoin is not only for rich people who have a lot of money,
but also poor people can buy Bitcoin. Even if poor people can analyze the market properly, can accumulate the resulting profit, finally can get
a big profit.
That is why Bitcoin has grown so fast in 12 years, because Bitcoin can indeed be bought by anyone. Even we can buy Bitcoin anonymously, no need
to show our identity to buy Bitcoin. This may be the attraction of Bitcoin why more and more people like it, I've even read articles that children under
the age of 18 always buy Bitcoin regularly every month. Finally, within 3 years of becoming a millionaire, stories like this are also experienced
by many people who do invest in Bitcoin in the long term. This means that anyone can get rich by investing in Bitcoin, the most important thing is
that the strategy we use is good.
I really do not believe 1BTC / more to win the poll. Not that I am underrating anyone but, majority do not really buy that big and yet it creates a misconception for others who want to invest. The misconception runs through the thoughts of many people when it comes to investing in Bitcoin. This is not just with newbies but even with some people who are old in the space. Even at the current price of $41,925, 1 Bitcoin is not the minimum you can buy! I have seen a lot of people who are discouraged because they find it their their $20 or even $500 still equates to 0.0xxxxBTC. I understand the feeling but when it comes to Bitcoin, there is no special incentives for those who own a larger amount that you. When we get into the Bull run and maybe the price increases by 20%, no matter the quantity you bought, this 20% will impact everyone evenly. That shows that Bitcoin doesn't care how many you own, just have some and enjoy the benefits. Don't go thinking that it is too expensive, remember that it is also calculated in smaller bits (Sats).
It is just normal that we do have that perception in mind that owning a whole coin would be great but its true that not all are financially capable to do so thats why we could only buy in small fractions and its true thatwhen it comes to percentage profits then it would be all just equal on the time that bitcoin do move its price up and same goes when its price goes down.This isnt a misconception though but people are
really just normally tends to be greedy even if they arent really that capable on doing so which they do end up on sticking with the reality and soon realize that accumulation would be the best move.
They put that into the basis and they're already discouraged to invest without learning more about it. Well, it is that investing is only for those people that have the guts and knowledge as they take the risk.
They don't get discouraged early if they know what they're investing. Unlike other people that don't look thoroughly with bitcoin, they'll be ending up regretting that they didn't invested when somebody told them to do so.
They don't get discouraged early if they know what they're investing. Unlike other people that don't look thoroughly with bitcoin, they'll be ending up regretting that they didn't invested when somebody told them to do so.
This kind of scenario mostly to be seen on those people who have different outlook towards bitcoin since many of new people coming around think about they can earn passive,fast and easy way to get money from this without knowing how huge the risk beneath on it. We really need to understand the risk since after the earnings will follow but we cannot expect to earn passively that's why its good to discourage young boys so that we will know how huge is their risk tolerance.
Bitcoin is believed as a best coin in Cryptocurrency. We can see the Success of Bitcoin in past 12 years. Its starting value is about 1$ but today its 40k plus. Misconception when buy or sell Bitcoin, is is real coin or fake will it give you profit or loose if you got scammed these are misconception.
at the beginning of the introduction of bitcoin, you may still be able to buy 1-3 BTC, it's normal, day by day, the value of bitcoin is getting higher, and for people who know bitcoin in 2017 and above, they are only able to buy in the amount of satosi
Indeed we should not tell other people how many Bitcoins we have, because if we are found out having a lot of Bitcoin it is likely to be
the target of scammers. So I'm sure there won't be many people participating in the poll created by the OP. Then we should not be discouraged
even though we cannot afford to buy 1 BTC, because there is no need to buy 1 BTC to be able to invest in Bitcoin. It's true what you say,
we can buy Bitcoin in fractions according to each financial ability. Therefore Bitcoin is not only for rich people who have a lot of money,
but also poor people can buy Bitcoin. Even if poor people can analyze the market properly, can accumulate the resulting profit, finally can get
a big profit.
BTC is for the community not for specific class that's why it has seen so much growth in 12 years. Its really surprising to see (if everyone voted correctly) that second majority of buyers bought more then 1 BTC. Due to correct investment strategy many small investors become millionaire over night and vice verse. In the end what matters is your strategy not the capital.
Bought and accumulated a decent amount before 2017 and the max I bought was below 0.5 in one go. I was actually still a skeptic back then because there are still some things that doesn’t sit right with me when it comes to bitcoins. Still bought it and never looked back, and that may still be one of my best decisions in life. Since then, no matter the price, I make sure to buy bitcoins whenever I have the extra funds. I don’t wait for the market to dip, just buy as soon as I can, and hold it for the long term.
just have some and enjoy the benefits. Don't go thinking that it is too expensive, remember that it is also calculated in smaller bits (Sats).
In my opinion, the biggest misconception when investing in bitcoin is always looking at the theoretical high value with their own eyes and ears but they don't understand what are the benefits of owning bitcoin and the real meaning of it. Bitcoins BTC and the safety of holding them. which means each of us becomes stronger by owning bitcoin no matter how much or little it is.Depends on the budget of each person. I only buy accrual every month
Never bought bitcoins! However, back in 2009-2010, a client of mine paid me in bitcoins for the services I did. Had no clue about bitcoins so I though the client was a stupid prick who didn't want to pay me for the services I offered. So I didn't care and blocked that client. I did not even care about the bitcoins he sent me, because at the time the value of a bitcoin was under 10 cents.
Now, I have no idea where are those bitcoins, don't even have that email id which I used to interact with my client. I guess I did not have the luck by my side! Otherwise, I would have made millions from those bitcoins..
Anyway, still not interested to buy bitcoins and this time due to its price
Now, I have no idea where are those bitcoins, don't even have that email id which I used to interact with my client. I guess I did not have the luck by my side! Otherwise, I would have made millions from those bitcoins..
Anyway, still not interested to buy bitcoins and this time due to its price
This is not just with newbies but even with some people who are old in the space. Even at the current price of $41,925, 1 Bitcoin is not the minimum you can buy! I have seen a lot of people who are discouraged because they find it their their $20 or even $500 still equates to 0.0xxxxBTC. I understand the feeling but when it comes to Bitcoin, there is no special incentives for those who own a larger amount that you. When we get into the Bull run and maybe the price increases by 20%, no matter the quantity you bought, this 20% will impact everyone evenly. That shows that Bitcoin doesn't care how many you own, just have some and enjoy the benefits. Don't go thinking that it is too expensive, remember that it is also calculated in smaller bits (Sats).
Well, some people wouldn’t really tell you how much they own, so it’s either that poll is filled with lies or maybe a lot of people didn’t really participate on your poll. What you have said is true, I have seen people who usually get discouraged to invest in Bitcoin just because they can’t afford to buy up to one Bitcoin. It is something that is steadily happening.When I meet such people I always try to let them know this: that there is no rule that says its must for we all to buy one full bitcoin, you can buy it in fraction and still make enough money from it. Investment is all about whatever you can afford to invest at that moment, you go ahead with it, because if you keep waiting for the right moment you’re going to miss a lot of opportunities.
Indeed we should not tell other people how many Bitcoins we have, because if we are found out having a lot of Bitcoin it is likely to be
the target of scammers. So I'm sure there won't be many people participating in the poll created by the OP. Then we should not be discouraged
even though we cannot afford to buy 1 BTC, because there is no need to buy 1 BTC to be able to invest in Bitcoin. It's true what you say,
we can buy Bitcoin in fractions according to each financial ability. Therefore Bitcoin is not only for rich people who have a lot of money,
but also poor people can buy Bitcoin. Even if poor people can analyze the market properly, can accumulate the resulting profit, finally can get
a big profit.
This is not just with newbies but even with some people who are old in the space. Even at the current price of $41,925, 1 Bitcoin is not the minimum you can buy! I have seen a lot of people who are discouraged because they find it their their $20 or even $500 still equates to 0.0xxxxBTC. I understand the feeling but when it comes to Bitcoin, there is no special incentives for those who own a larger amount that you. When we get into the Bull run and maybe the price increases by 20%, no matter the quantity you bought, this 20% will impact everyone evenly. That shows that Bitcoin doesn't care how many you own, just have some and enjoy the benefits. Don't go thinking that it is too expensive, remember that it is also calculated in smaller bits (Sats).
Well, some people wouldn’t really tell you how much they own, so it’s either that poll is filled with lies or maybe a lot of people didn’t really participate on your poll. What you have said is true, I have seen people who usually get discouraged to invest in Bitcoin just because they can’t afford to buy up to one Bitcoin. It is something that is steadily happening.When I meet such people I always try to let them know this: that there is no rule that says its must for we all to buy one full bitcoin, you can buy it in fraction and still make enough money from it. Investment is all about whatever you can afford to invest at that moment, you go ahead with it, because if you keep waiting for the right moment you’re going to miss a lot of opportunities.
It is not really surprising because many of us here have been around for a while. Some have been here since as early as 2015 or 2016. So it is easy to believe that they have indeed bought at least 1 BTC in just a single transaction. Bitcoin at that time was just hundreds. It was less than a thousand dollars so a lot of ordinary people could easily afford even more than 1 BTC. But times fly so fast with Bitcoin. A few years later, 1 BTC is already worth more than $10,000, $20,000, $30,000, etc.
Many of us have been around since that time, I have come when BTC touches $1200 and then took a dive down to $300 which a fellow webmaster signals me to buy some. I bought more than 3.xx BTC only to discover it dips more to $200. I panic, sold, and buy again when it started going up.
Judging by OP's account, he must have already been in the market when Bitcoin was still much cheaper than today's price. So he should not be that surprised when the maximum amount bought by many users who participated in the poll is more than 1 BTC.
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The misconception is that people always want to have 1BTC and not a fraction but its just too expensive these days and newbies don't realize they can own just 0.05.
OP was asking for the maximum amount of Bitcoin that people bought. If he asked for the minimum amount of Bitcoin people bought, then the winning amount should definitely be below 0.1 BTC.
In 2014, I heard about Bitcoin when it was still under $600. And yes, I have the misconception back then that I didn’t buy BTC coz’ I thought that I need to buy 1 BTC rather than fractions of it. However, I wasn’t serious back then as I just simply signed up for Coins PH wallet and Bitcointalk account and ignoring it for more than 3 years.
If only I’ve understood more about it, I could have bought some fractions of BTC and have made some money when it ballooned to as much as almost $65k after that Elon Musk hype.
If only I’ve understood more about it, I could have bought some fractions of BTC and have made some money when it ballooned to as much as almost $65k after that Elon Musk hype.
You see?! You could have been a part of Bitcoin earlier before now, except that you never knew that there were fractions. And this is basically what is going on in the head of many newbies who do not understand. I get it many times when I tell people about Bitcoin then, they ask me how much it's worth and I'm like "$40k plus". I try to explain to them but, some don't feel they have it if they can invest $30k but still can't get 1BTC. We need to educate people that fractions are possible and that is basically how most people use it on a daily basis.
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