Topic: The misconception when buying/investing in Bitcoin - page 2. (Read 431 times)
Yep that is true for all coins, not just bitcoin. You don't have to own one whole coin. You can buy fractions of the coin and still make profit. You can make turn the fraction into a whole coin if you keep on investing slowly. Even your fraction of coins can worth thousands of dollars after few years. I mean look at faucets. They used to give less than few cents back then. But now those few cents worth hundreds of dollars.
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.
We all have our misconceptions before as we are prone to doubt and limit ourselves. The market is too volatile to consider. I also regret it but nothing can happen do whenever I see new coins that might have what it takes like bitcoin in terms of potential and usefulness, I make sure to buy and hold some but still eith monitoring on ehat may happen with that coins as not all altcoins able to gain profit. 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 don't need to have a lot of money in able to start and invest in bitcoin. As long as you initiated it, you'll keep going and have the mentality of being an investor. But before doing any initiative, they were already complaining which is a sign that maybe they're not really for bitcoin, and they should look for another investment type that they can be favorable of. Well, on that case, they are interested but need more understanding and gut to do it. About time, well, we all have time and holding doesn't require to be focused on it after buying.
Many people misunderstand when it comes to investing in Bitcoin, especially newbies who lack knowledge about the crypto world. Some people
think the high price of Bitcoin makes it impossible to buy Bitcoin with a small capital. If there are still people who think like that, it is better to
study Bitcoin properly, in order to understand at least basic knowledge about Bitcoin. Because Bitcoin can be bought with very little amount of
money, we don't need to buy 1 BTC, we can even buy Bitcoin with $20. Moreover, if we buy Bitcoins regularly, the number of Bitcoins we have
can increase and the profit generated will be even greater. So the first step in investing in Bitcoin is to learn about Bitcoin first, so that we don't
panic at the volatile Bitcoin price.
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.
You don't need to have a lot of money in able to start and invest in bitcoin. As long as you initiated it, you'll keep going and have the mentality of being an investor. But before doing any initiative, they were already complaining which is a sign that maybe they're not really for bitcoin, and they should look for another investment type that they can be favorable of. Well, on that case, they are interested but need more understanding and gut to do it. About time, well, we all have time and holding doesn't require to be focused on it after buying.
Many people misunderstand when it comes to investing in Bitcoin, especially newbies who lack knowledge about the crypto world. Some people
think the high price of Bitcoin makes it impossible to buy Bitcoin with a small capital. If there are still people who think like that, it is better to
study Bitcoin properly, in order to understand at least basic knowledge about Bitcoin. Because Bitcoin can be bought with very little amount of
money, we don't need to buy 1 BTC, we can even buy Bitcoin with $20. Moreover, if we buy Bitcoins regularly, the number of Bitcoins we have
can increase and the profit generated will be even greater. So the first step in investing in Bitcoin is to learn about Bitcoin first, so that we don't
panic at the volatile Bitcoin price.
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.
That's right, no matter how small you have bitcoin with a price increase of 20% you can still enjoy it, but it will be more pronounced if you have a large amount. Keep in mind that in addition to profit there is also a risk that can happen at any time. Having a large amount in addition to having a large profit potential also has a large loss potential. all options are up to you.
Big profits and losses all also depend on how to manage the capital you have. When the price drops drastically we will have the opportunity to buy bitcoin at a low price and when the price reverses at the initial price we buy then we will make a profit. The very high volatility of bitcoins should make us cautious. don't put everything in one basket, it's not good. Buy gradually when low prices will be better and then sell at a predetermined target.
having just 1 whole BTC is just better than having 0.03BTC. even today i wanted to have at least 32Eth while in reality i onky have 1.04Eth left. odd number just dont make me feel good. 😁
newbies knew they can buy just 0.0003BTC if $15 is just what they can afford but having
6 ADA sounds alot bigger than having just 0.0003BTC. the brain tricks its own that misconception persist.
newbies knew they can buy just 0.0003BTC if $15 is just what they can afford but having
6 ADA sounds alot bigger than having just 0.0003BTC. the brain tricks its own that misconception persist.
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).
I absolutely agree with you that it is better to invest at least a little money than not to invest at all and spend all your money. I also have a small capital now, but I am rather young and I have a plan of investing money from every salary, so I am sure that one day my capital will become much bigger and I will be a real professional. What comes to the issue of small capitals, if you don't have much money, you are to invest your time and invest in different risky assets.
This misconception happen because they're often buy shitcoins and want to made quick profit. Take an example 1 Bitcoin worth $41.000 right now, if the price increase to $60.000 of course $19.000 is really good profit if you own Bitcoin but if you own little amount you'll only get +31%.
The misconception here is that many think Bitcoin is already too expensive to still make a big profit. I heard and read this argument often when Bitcoin was at 1k. So many said, it is not worth anymore to invest into Bitcoin because it is already very expensive and there is little space to grow. Well, today we know there is/was at least 60x space to grow
So the question is whether you are now subject to this error again. Who says that Bitcoin's fair value is not 1 Million? Then 20x would be possible.Also, I would not always think in BTC as a reference, but for mBTC ($47 at the moment), then it is much easier to consider that also $500 or 1000 per mBTC is possible.
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.
I can't remember but it could be around the .1 denomination, I was a bit late to the party at that time so I can't buy a lot of bitcoin and I am still a student back then in highschool so there's not a lot of money to be earned.
One reason why the people I've talked to don't invest in bitcoin is because of its price. The same reason, expensive, blah blah blah. But they don't know the true form of it after the years have passed. They haven't looked at the possibility that the same increase might happen for the next years to come. Well, it is also the reason why I've stopped entertaining people that are asking about it then don't have the courage to invest since I'm done talking that much about how optimistic I am with it.
Maybe they don't have a lot of money in the first place and that the money that they have is only enough for their daily expenses, that's the biggest reason why some people don't invest, because they don't have enough money and time.Many people misunderstand when it comes to investing in Bitcoin, especially newbies who lack knowledge about the crypto world. Some people
think the high price of Bitcoin makes it impossible to buy Bitcoin with a small capital. If there are still people who think like that, it is better to
study Bitcoin properly, in order to understand at least basic knowledge about Bitcoin. Because Bitcoin can be bought with very little amount of
money, we don't need to buy 1 BTC, we can even buy Bitcoin with $20. Moreover, if we buy Bitcoins regularly, the number of Bitcoins we have
can increase and the profit generated will be even greater. So the first step in investing in Bitcoin is to learn about Bitcoin first, so that we don't
panic at the volatile Bitcoin price.
One reason why the people I've talked to don't invest in bitcoin is because of its price. The same reason, expensive, blah blah blah. But they don't know the true form of it after the years have passed. They haven't looked at the possibility that the same increase might happen for the next years to come. Well, it is also the reason why I've stopped entertaining people that are asking about it then don't have the courage to invest since I'm done talking that much about how optimistic I am with it.
Maybe they don't have a lot of money in the first place and that the money that they have is only enough for their daily expenses, that's the biggest reason why some people don't invest, because they don't have enough money and time.
One reason why the people I've talked to don't invest in bitcoin is because of its price. The same reason, expensive, blah blah blah. But they don't know the true form of it after the years have passed. They haven't looked at the possibility that the same increase might happen for the next years to come. Well, it is also the reason why I've stopped entertaining people that are asking about it then don't have the courage to invest since I'm done talking that much about how optimistic I am with it.
Maybe they don't have a lot of money in the first place and that the money that they have is only enough for their daily expenses, that's the biggest reason why some people don't invest, because they don't have enough money and time.So it is normal if they say like that but if they want to search for more that they do not have to have much money to buy bitcoin as their investment, they will know and try to buy bitcoin with some amount of the money.
If they can divide their income or have free money, they will see that bitcoin is a good place to invest their money for their future and they will not feel hard to buy bitcoin.
Maybe they need to search for more info about investing in bitcoin to start to have a new bitcoin investment.
Impossible that 6 people here have bought more than 1 BTC at a time,,, if they did it before in the years before, then there are 6 legendaries for sure. And none of them would reply in this thread I guess.
I never bought until halfway in my journey. And DCA only and very small amounts of less than $100
I never bought until halfway in my journey. And DCA only and very small amounts of less than $100
One reason why the people I've talked to don't invest in bitcoin is because of its price. The same reason, expensive, blah blah blah. But they don't know the true form of it after the years have passed. They haven't looked at the possibility that the same increase might happen for the next years to come. Well, it is also the reason why I've stopped entertaining people that are asking about it then don't have the courage to invest since I'm done talking that much about how optimistic I am with it.
Maybe they don't have a lot of money in the first place and that the money that they have is only enough for their daily expenses, that's the biggest reason why some people don't invest, because they don't have enough money and time. 
This misconception exists only for the people,who are really ignorant about Bitcoin and how the Bitcoin Core blockchain works.More and more people became aware about Bitcoin and more people know that Bitcoin can be divided into bits and satoshis.We live in 2021,not 2011.Bitcoin is famous and people aren't that dumb,at least the majority of the people. 
Anyway,it would be completely fine if we could just stop using one Bitcoin and it's price for the main criteria.
Using one satoshi instead would be great,but I guess that everything,that is being sold for BTC will be measured in millions of satoshis,which would look weird.Perhaps one bit is better than one satoshi.
Anyway,it would be completely fine if we could just stop using one Bitcoin and it's price for the main criteria.
Using one satoshi instead would be great,but I guess that everything,that is being sold for BTC will be measured in millions of satoshis,which would look weird.Perhaps one bit is better than one satoshi.
Now that you say it OP, I recall instances when I have seen people being discouraged from buying BTC because they could not buy a "whole number" amount at one instance. I tried explaining to them that they can buy smaller fractions but they argued that they would wait for a lesser price.
I cant say I would disagree to the point that buying at lower price seems feasible - true, you would want to do that so you know you would be getting more when you sell. But cannot help the fact that the fiat value of bitcoin is often unapproachable for many users who are coming in new to the market. Not every person is this world is from the US and not every place in the world is friendly about bitcoin.
For them significance of an investment is the amount of that asset that they own and if they only own a fraction of the value then to them that is somewhat of an insult - this is the thought process that I have been able to understand.
I cant say I would disagree to the point that buying at lower price seems feasible - true, you would want to do that so you know you would be getting more when you sell. But cannot help the fact that the fiat value of bitcoin is often unapproachable for many users who are coming in new to the market. Not every person is this world is from the US and not every place in the world is friendly about bitcoin.
For them significance of an investment is the amount of that asset that they own and if they only own a fraction of the value then to them that is somewhat of an insult - this is the thought process that I have been able to understand.
Well! If anyone has that wrong idea with bitcoin, they have it with any asset they want to acquire, bitcoin should not be different, by the way, they have alternatives to gain that path and in that process to the "dream" of having a 1 BTC, going from sat in sat, as you well mentioned.
Having 1BTC should not take away the sleep in theory of anyone who is clear about their income and purchase possibilities and in fact their life priorities, it is a simple rough balance of life, real life, offline, if your income they are not enough to get out of the satoshi in purchase is not bad, it is bad not to access part of the wealth of what supposedly is and will be bitcoin.
Having 1BTC should not take away the sleep in theory of anyone who is clear about their income and purchase possibilities and in fact their life priorities, it is a simple rough balance of life, real life, offline, if your income they are not enough to get out of the satoshi in purchase is not bad, it is bad not to access part of the wealth of what supposedly is and will be bitcoin.
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 $200. I panic, sold, and buy again when it started going up.
The misconception is that people always want to have 1BTC and not a fraction but its just too expensive these days and newbies don't realize they can own just 0.05.
It's something what most people already know about, but when we are talking about newbies or people who have no idea about this. I do believe it's our responsibility to teach them about it.
My whole family is really traditional when it comes to investments, but I made sure to teach even my grandma about bitcoins as well, she knows the basics and she is almost 80!! Even though she can't use it, she has the idea.
My brother and Dad are always asking me if I can invest their money like 20-30$ every once in a while, then they take it out at appropriate times. The whole idea is : Bitcoins only came into existence in 2009,it's still early for everyone to know about them and most likely it's out responsibility as an active member of the community to spread the awareness since this is one thing that provides financial freedom.
An interesting fact:
Do you know 1 in 10 people invests in cryptocurrencies in today's world?? Which is honestly a huge number.
Plus after the awareness the benefit of Bitcoins and cryptocurrencies can be extended to tackling corruption in various sectors. Especially the governmental sectors.
My whole family is really traditional when it comes to investments, but I made sure to teach even my grandma about bitcoins as well, she knows the basics and she is almost 80!! Even though she can't use it, she has the idea.
My brother and Dad are always asking me if I can invest their money like 20-30$ every once in a while, then they take it out at appropriate times. The whole idea is : Bitcoins only came into existence in 2009,it's still early for everyone to know about them and most likely it's out responsibility as an active member of the community to spread the awareness since this is one thing that provides financial freedom.
An interesting fact:
Do you know 1 in 10 people invests in cryptocurrencies in today's world?? Which is honestly a huge number.
Plus after the awareness the benefit of Bitcoins and cryptocurrencies can be extended to tackling corruption in various sectors. Especially the governmental sectors.
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