Topic: The two key thing that defines your success as a Bitcoin investor - page 2. (Read 370 times)

Investment with DCA for a long time like 10 years is very great. The following link is for 9 year of DCA.
https://dcabtc.com?sd=2016-01-20&sda=9_years&f=monthly&d=9_years&ac=10000&c=false

Total invested capital is $10,800 with $100 monthly DCA for 9 years, ROI is 2,041%. In future, Bitcoin will have less price growth rate so ROI for next 10 years will be smaller.

If you can hold your bitcoin more than 5 years and 1 month according to Bitcoin history so far, you will have profit.
https://hodl.camp/

Even the idea of ​​holding it for a long time means that you need to have another source of income and emergency funds and keep buying Bitcoin for more than 10 years to see enough appreciation to buy a house or +$100k which can change your life. $50k may be enough to change your life in some countries but in those countries it is rare to be able to save $500 a month.

I believe this is what happened; it all changed after investing. People can change their views once they have market experience and when they fully understand how this works. I may not be seeing it wrong because being optimistic drives us to be more courageous than doubts and fear. I'd rather encourage them (newbies) to think like that rather than think negative things. 

People who have a lot of worries in their minds can't think wisely. But those who are optimistic will certainly find a way to solve problems when it happens. 

Apart from that, for me the another important key is people should hold their coins in non custodial wallet. There are more people hold their coins in CEX instead in their wallet, it would be a huge disappointment if you've hold Bitcoin for 10 years and the CEX get hacked.

How long is "very long time"? I've hold Bitcoin since 2020 and my money only double from the amount I've invested (I use DCA strategy), so even though I've hold for 5 years, it's "only" double my money. It's not that I'm not grateful with the return, I know Bitcoin is perform better from the majority investment, but getting rich is more than just double your money.

That's why the rich stay rich.

Actually isn't just all about holding for like 2 to 3 circles you know most investors they can intend to hold for like 1 year whatever profit they get within this 1 year interval is perfectly ok for them I think is all about choice. Of course bitcoin investment can be a life changing investment depending on the stash of bitcoin you have in your portfolio. And also being patient enough to hold on to it in the long run. this are the key that defines your success as a bitcoin investor if you can be able to accumulate enough bitcoin in your portfolio and also hold on to it for  decade. of course is rest assured that you're going to make a huge profit from your investment.

Yea, you are very much correct on this, security of your asset is on of the most important thing an investor must look out for if he must be successful in his dealings as a Bitcoin investor, and the best way to do that is to buy and put your Bitcoin in a self custodian wallet like electrum where only only you have access to, and do not forget that your secret phase must be written down and save offline,  in a private place where only you have access to.
As for the words I made bold in your statement, you really need to understand that in the world of cryptocurrency, their is no diversification because no other coin is as trustworthy as Bitcoin, any other coin aside Bitcoin is like a game where you are not that certain wether it might recover if it crashes in price, unlike Bitcoin that always rally back to even better height, so their is no diversification in cryptocurrency, unless you just want to take risk on alt and meme coin.
Then as for constantly taking profit from your holdings. If you are actually withdrawing from your holdings, does that still make you a Holder? Because you are actually selling for minimal gains when you should be looking for ways on how to accumulate more and increase your stash, that's a traits of traders not investors to be honest with you.

and you put this two out without talking about the security of your asset? investing without talking about the security of your asset is just like loading your house with lots and lots of money and letting it open or not being concerned that a third party infringing on your home can destroy all you have used the whole of your life in building.

variables that work together in ensuring that you invest and that you succeed in your investment are much and apart from the two you have just outlined, they key one is the security of your asset while you can talk about other miscellaneous ones like setting up of your emergency fund, ensuring that your stream of income is regular and if possible, increasing on your earning and at some point, diversification and even taking some profit as a way of giving yourself a tap in the back, doing that will motivate you to stay invested for the long run. but at the end, bitcoin investment is not a do or die affair, if you are not the type that will be willing to stay disciplined to investing for the long run, regardless of the theoretical knowledge you have, getting the best from your investment might be hard. the best approach to being successful in your investment is to get started. if you make a thousand post or statement and never start investing, you will only look like a man that is beholding his face in the marrow and goes out without remembering what manner of a man he was. talk less and invest more, that's the way to go.

Newbie normally have this feeling that investing in Bitcoin is a get rich quick scheme, without noing that Bitcoin investment is always good when you invest for a long period of time and hold for future. Normally as a newbie that really wants to invest in Bitcoin it is essential for you to setup a good goal aside from your Bitcoin investment, so that Incase of any emergency comes out it will enable you settle it without touching your Bitcoin investment.

Bitcoin holding should really be long term, if you really want to make something out if it. To be a successful Bitcoin investor isn't an easy journey just like every successful person would say the road to success isn't an easy road.
If you really want to reap the fruits of Bitcoin, then hold as long as possible, Bitcoin never disappoints.
Short term holdings should be for altcoins only.

It's so funny but he truth. Many investors especially the newbies when they just hear the current value of Bitcoin they become optimistic to become a millionaire overnight without know what the system entails. Most investors don't know that the magnitude of the stash of Bitcoin you have in stock and the time you hold the Bitcoin is directly proportional to the profitable of the investment.
To be successful in Bitcoin there must be a sgnificant investment and also the perseverance to hold the Bitcoin for a very long time regardless of any occuring financial needs of the investor within the life cycle of the investment.

I have come to understand that most investors, especially newbies investors believe that once they invest in Bitcoin, their financial status will change forever, they don't know that they must hold for a very long time if they want to get something good out of it.
The key things that mostly determine how profitable and successful you might be are;
The stash of Bitcoin you have and
How long you can hold.

* The stash of Bitcoin you have: All Bitcoin investors needs to understand that your stash of Bitcoin determine how profitable you might be in the future, because you cannot invest only $20 into Bitcoin now and be expecting to be a multi millionaire in the future, it's true that it might improve your financial situation quite alright but it can't change your financial status forever unless you have a very good and a huge stash of Bitcoin in your possession.

* How long can you hold: as easy as it seems, it's very difficult to hold for a very long time because the temptations of cashing out when you are already in a huge profit can be very difficult to resist, even when you have a source of income and an emergency funds to carry on holding, because when it comes to Bitcoin, the way it is wired, the longer you hold, the higher the possibility of you making more money from your Bitcoin investment.