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

It all depends on the person involved, how long he wants it and how much Bitcoin he going to sell off for his immediate needs. A need will arise that'll take all the Bitcoin he had stored for long, it's depends. What actually makes Bitcoin investments and holdings works is the steady flow of income from different streams, if you expect to only get funds from your holdings when you get certain profits then bare in mind that your Bitcoin will finish off quickly because bigger your needs, then bigger your Bitcoin withdrawal.

If someone wants to become Bitcoin investor, they must allocate some money that they don't use for anything. That will prevents them to have difficulty to invest in Bitcoin continuously for some term. They can not just invest $20 and hope they can make a big profit. They must buy back more and more Bitcoin for some years and hold it without any intention to sell at a low price. That is why we have DCA methods that many people can use so they can invest in Bitcoin routinely.

They should know how long they must hold their Bitcoin so they will not in a rush to sell or use some portion to fills their daily needs. But if you see the profit become bigger, they can sell their Bitcoin without waiting for more but they don't need to sell all of Bitcoin they have.

Agreed.
If a person knows enough about Bitcoin and learned about it - he won't have shaky hands with it for a moment, imo.
That's the key to hodl patiently.

Honestly speaking he sold too quick, but that's not the point am trying to say here, what am trying to say is that he knows very less on Bitcoin ecosystem and how it operate, he only possesses the basic knowledge of Bitcoin and how it appreciate in value overtime, so he decides to buy, in a short time he sold off for minimal gains.
The key point was that he took the steps of buying it even without having much knowledge on it, and he would have even made more if he had held it up till this day. Him selling it too quick is what lack of knowledge does to him which was his greatest failing
As for where he held it, am not certain of where he held it though, but holding up your asset in an exchange is what lack of knowledge does to man, because the cost of ignorance is very high and dangerous.

Two concepts that make someone able to achieve financial improvement to be better if applied consistently but these efforts also need to be considered regarding strategies to increase bitcoin ownership regularly.
If some beginners do a buy and hold strategy for the bitcoins they have, then that is the right choice because bitcoin can indeed provide returns that are in accordance with how to hold it in the long term.
But what needs to be considered next is how a beginner can continue to consistently collect bitcoins if they do not have good financial resources on their journey.

To make all this easier and not make them stop investing, a strategy is needed that can be applied according to the capital capabilities they have.
The method is to utilize DCA as a strategic step so that they can slowly increase the amount of bitcoin ownership they have.

I think this whole analysis boils to educating oneself so as to build the immune of overcoming Fomo but to hold your bitcoin patiently to only sell at profits.
Part of the characters is also Dca as to increase your portfolio with your spare funds as investment plans and staying disciplined towards your goals.

That is true and I think the best phrase to this is that they want to believe invest investing on Bitcoin will offer them quick income that is automatically change their financial status from poor to rich.

It is really annoying after telling interested enthusiasts that Bitcoin is a good source of income if invested and  hold for long period of time which investors do not have to rely on it on quick Incomes and then imagine such newbies or enthusiasts disapproving this slow concept of Bitcoin that they can not invest on Bitcoin if it can not provide quick incomes.

Then I will always ask such person that... Okay, tell me. What source of investment is provides a quick income in the reality world of physical assets if not trading?

However, I would always tell such persons that... You can as well trade on Bitcoin if you want a quick income but be it sure that the risks of lost on trading is tendered to come than when just buy your Bitcoin and hodls while awaits for a positive flows towards the market price increases where the values of your holding multiplies.

Your story is a little contradicting if you ask me. Now first and foremost if he was a little more of a bitcoiner than he was back then I believe he would have still be holding up until now. Now don't get me wrong I'm not trying to judge when people should buy or sell off their coins rather you find out that people that benefit most from holding are those that actually understand the network very well.

Now let's talk about how he stored those coins. It's possible he stored them offline or on your hot wallet or worse on an exchange. There is also a high chance that he stored those coins on an exchange for a long period of time and didn't lose them to any form of hack scam or phishing but that doesn't necessarily mean that his coins were safe it only means he was lucky if that is the case.

You have a point here no doubt, but I know of someone that doesn't know anything about the Bitcoin ecosystem, all he just have is faith in Bitcoin, he believes that since Bitcoin is an asset that appreciate in value overtime, if he can get a huge stash of it, and hold for a long time, he is definitely going to make cool money.
That guy bought Bitcoin base on when the funds is available, and due to the fact that he is being payed amnesty, he uses all of it to buy anytime the money comes in, and he did it for like 8 months when Bitcoin was around 18k to 30k if am not mistaken, he eventually sold his holdings when Bitcoin rose to 67k, and it was easy for him to hold because aside the amnesty that he is being paid for, he is actually working in a private establish firm.
Why am I saying this? Am saying this because most investors don't need to know everything when it comes to Bitcoin, they just need to have the basic knowledge of it and what is required to hold, that's it, then the stash of it in your possession will determine how profitable you might be in the future.

The fact is in my opinion one of the major things that defines how successful you will become in Bitcoin investment is first and foremost understanding the ecosystem. Many people may be of the idea or opinion that understanding the ecosystem is knowing about liquidity and how to take advantage of it but that's not actually it since the context here is basically holding and not trading. Now the Bitcoin ecosystem is based on two major things which is decentralization and privacy. The fact is the earlier you get to understand what these actually mean the better for you as a bitcoin investor.

Bitcoin is very different from other altcoins where you have to strategize every now and then to make sure you are maximizing profit and not losses. Another thing that people find very difficult in a bitcoin ecosystem is taking proper security measures in securing their coins and also using the concept of privacy. You'll find out that majority of bitcoin losses come from hacks thefts and phishing.

The early investors didn't have to bother about the stash of Bitcoin that they had because they could easily buy a large amount with only a few dollars that they have invested because Bitcoin was still very cheap that you can't use only few dollars to buy a good amount of Bitcoin but now at this moment as Bitcoin has now cost so much that most people can't afford one Bitcoin again. For this set of people, what they have to focus on is how long they hodl because the small Bitcoin that you have will be worth more as Bitcoin continues to grow in price..

We missed the opportunity to buy Bitcoin when it was cheaper but we still have more opportunities to buy while the price hasn't skyrocketed more than a million dollars because there are predictions of the price going to that price in the future and there's a possibility of it happening since we have crushed other price targets and now above $100k.

Many people seek salvation in altcoins but all they found was misery. And for some reason, they never learn too. Bitcoin has been around from the start and it went nowhere but up. During that time many alts collapsed and never recovered. Some of them kind of recovered but they never reached their last ATH from years ago again.

Some people made money from alts it is not a lie but for every person who made money, some other person lost it. That’s why these altcoins are not recovering once they collapse. Alts are mostly ponzi schemes. There is only one safe crypto and it ain’t ethereum. It is bitcoin.

Bitcoin investment comes with a fair price. But if you aim of targeting getting rich in the future, you have to start an investment right, you have to pay quite an expensive amount at the start. Taking risk pays off if you do it right.

Holding is more challenging than accumulating alone. You can't hold if you don't have enough patience to make your hodling work. You can't hold if you are just focus on short term goal, but set a long-term goal and make the process works on a consistent basis.

The amount of sats we hold and for how long is a great measure to determine how productive our investment in bitcoin could be over time, however, one other thing that we must not forget to remember is about of consciousness to how we can maintain a good security practice with the coin we are holding, in other not to render all our long awaited efforts into waste, we have to stay informed, remained in the system with up to date information, most especially the ones that concerns the security of the wallet or bitcoin we are holding, so that others will not feat on the labour we have worked for.

It is very good and also a big goal that our new generation is coming up deeply into the cripto currency world.

Am so delight seeing my colleagues with new knowledge or information to educate one another  in achieving cripto goals and success.

As an investor is very important to invest more because the high capital you put the high return (profit) you get.

You don't expect magic to happen by investing pennut and you want to be a billion in dollars overnight, it's not possible. You put more and get more.

Secondly, Bitcoin major characteristics is storing of value, and to enjoy the full benefit  and accumulation of it is holding for a long time duration.

Holding some amount of BTC for a long time doesn't guarantee that an investor has become successful, what matters the most is if the investor constantly DCA to ensure that their portfolio increases and it has to be timed properly so as not to be involved in the market season where loss is sure.
Even if an investor decides to use lump sum of investment for acquisition of more BTC, there would still be the need to constantly add to the initial capital and yes, the discipline to hold for long is what will ensure that an investor has a reasonable profit margin after a duration spanning close to a decade.

beginners who decide to invest in bitcoin need a proper plan that they have thought about how to invest regularly and hold in the long term. one of the best ways that beginners can do is to do DCA, and buy bitcoin with the money they have prepared. but maybe not all beginners are able to invest regularly ... maybe they are still hampered by other needs or they still can't be confident to invest their money. therefore a beginner must prepare a source of income that they are ready to use for regular investment, and also an emergency fund that they can use for any situation - so that they will not sell when they have not made any profit at all.

Thirdly, the time you buy is also another determinant to how long you have to hold to get to make significant profits. These are keys things some of the  newbies are having challenge with because what is mostly talked about when the idea and topic on bitcoin is raised or discussed in some of the online platforms they revolve or concentrate on profit and profit from bitcoin investment with less talk on the how and timing.

Though we all know that bitcoin isn't a get rich quick asset but there are periods you will get to invest in bitcoin and the size of the funds  put in could get you a sharp profit within a few months for what you should to make in years. For example, an investor that invested $10,000 as at October 2024 when bitcoin price was about $55k, from that period to this day January 2025; a space of 3 months bitcoin has made a 60% increase since after the US election reaching a $109k ATH. Thats over a 50% profit for $10k invested.

Reality is, you won’t be able to hold longer your bitcoin if you don’t fully understand what will be the role of bitcoin in your future. Even the fact that you are highly motivated because of hearing other people’s successful bitcoin stories, still holding your bitcoin for couple of years is still a big challenge. But if you have a strong faith with bitcoin that it will be your key towards financial security and stability in the future, then you can manage to hold your bitcoin without getting tempted to sell.

That's true the more stash you have the more your profit in a long run, that's why is encouraged for folks to keep building their stashes using any purchasing method that's convenient for them , because for instance a guy purchased $1k of bitcoin and decided to hold it without thinking of purchasing more or increasing their Stashes so user won't endup with good Return compare to those that kept purchasing with DCAing , just imagine a guy kept purchasing bitcoin with $100 weekly, just imagine him doing it for a year , that would $5,200 , so you can't compare his return especially in this bullish season.

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.