Wrong way to accumulate. - page 2. | Bitcointalksearch.org

Blitzboy

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Quote from: uneng on August 19, 2023, 04:20:00 PM

Quote from: pawel7777 on August 19, 2023, 04:13:02 PM

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That is right. They believe Bitcoin potential is already saturated. What isn't true at all, since there is a lot of potential for BTC yet, as it may still reach 100K$ ATH in some years, guaranting a profitability of more than 300% for investors who start the investment right now.

The problem is that those who invest in altcoins think 300% is low profit. They aim exaggerated goals such as 1000% and even more, which are promised to be reachable by altcoins developers and shillers. That is when investors lose money, because those goals aren't realistic in most cases.

These altcoin fanatics mindlessly chase the dream of 1000% returns because developers promise them the moon. But lets be honest: most of these claims are as solid as a rotten tree trunk. Bitcoin, the first cryptocurrency, the giant, the monster, has YET to reach its full potential. Those who say otherwise are either wrong or have something to hide.

Is a profit of 300% low? In what way is reality skewed? Even though it doesnt promise crazy profits right away, that doesnt mean its not useful. Bitcoin has proven itself over and over again, while these other coins come and go like the seasons.

Its not about being conservative; its about being sensible. But in this crypto world, reality doesnt sell as well as fantasy, does it?

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Quote from: uneng on August 19, 2023, 04:20:00 PM

-snip-
The problem is that those who invest in altcoins think 300% is low profit. They aim exaggerated goals such as 1000% and even more, which are promised to be reachable by altcoins developers and shillers. That is when investors lose money, because those goals aren't realistic in most cases.

Altcoin profit targets of up to 1000% mostly occur on newly emerging and hype memecoins, while for altcoins, in general, it takes a long time and the right moment like in alt season.

But even if a 1000% target can happen, it's not easy to find.
Targeting that much upside is like looking for a needle in a haystack and mostly results in a lot of losses for investors.

If 300% is considered a low profit, then they are not real investors, they are seasonal investors who are only there when the hype moment appears.
Even the price of Bitcoin reaches $100k will not reach up to hundreds of percent, but it will always be looked forward to as a new ATH.

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Quote from: pawel7777 on August 19, 2023, 04:13:02 PM

Quote from: Inwestour on August 19, 2023, 01:51:16 PM

I have noticed that for many, getting rich quick is associated with buying altcoins, but I think this is a false path, because these are big risks and I am not sure that it is worth risking your investments at the very beginning.

The logic behind it is people think that since Bitcoin is already high (compared to its first years) and therefore the only way to get super-high returns is to gamble on low-market cap altcoins. And since they only have small capital, they feel like they have no other choice.
There's some truth to it, but that's not a wise approach. In the longer run, it's way better to be patient and invest small amounts the same (or similar) way you'd invest large capital, than to just to piss money away on a short-lived pump and dump schemes.

That is right. They believe Bitcoin potential is already saturated. What isn't true at all, since there is a lot of potential for BTC yet, as it may still reach 100K$ ATH in some years, guaranting a profitability of more than 300% for investors who start the investment right now.

The problem is that those who invest in altcoins think 300% is low profit. They aim exaggerated goals such as 1000% and even more, which are promised to be reachable by altcoins developers and shillers. That is when investors lose money, because those goals aren't realistic in most cases.

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Quote from: Inwestour on August 19, 2023, 01:51:16 PM

I have noticed that for many, getting rich quick is associated with buying altcoins, but I think this is a false path, because these are big risks and I am not sure that it is worth risking your investments at the very beginning.

The logic behind it is people think that since Bitcoin is already high (compared to its first years) and therefore the only way to get super-high returns is to gamble on low-market cap altcoins. And since they only have small capital, they feel like they have no other choice.
There's some truth to it, but that's not a wise approach. In the longer run, it's way better to be patient and invest small amounts the same (or similar) way you'd invest large capital, than to just to piss money away on a short-lived pump and dump schemes.

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For investment of cryptocurrency, as investor you most have a category of your investment or you have of investment in bitcoin and without having such you will be discouraged or being biased in your investment, some investors chose to use go through long term investment and those who chose to go through long term investment are investors that targeted to invest during bear season why the short term investors most of them invest when bitcoin price is fluctuating or increasing so that they will make advantages of any step of bitcoin increment, so I believe that bitcoin investment the investors have have plan and target before investing

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Quote from: lixer on August 19, 2023, 12:50:23 PM

What's basically wrong is the mindset of getting rich quickly with cryptocurrencies, I know that it happens with some but that is purely out of luck, and general cryptocurrency investments can only provide you profit but won't magically make you rich overnight. So one needs to rectify their approach first and take this opportunity just as an opportunity to earn money, maybe even earn a living if done properly but shouldn't think of it as a get-rich-quick scheme.

People who enter the market with this approach will most likely waste their money investing in shitcoins hoping for huge gains and eventually losing their investments and then blaming cryptocurrencies for making them go broke which is actually the result of them becoming greedy and wanting a lot of money in a very short period of time.

I have noticed that for many, getting rich quick is associated with buying altcoins, but I think this is a false path, because these are big risks and I am not sure that it is worth risking your investments at the very beginning.

The basis of the investment should be bitcoin, I even tend to have only bitcoin in the portfolio, but if there is a desire to take risks, then let 10% of the portfolio consist of altcoins, their loss will not become critical in case of failure. At the very beginning, we need to focus as much as possible on the security of our funds, and bitcoin is the best fit for this.

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Quote from: Prestongold on August 17, 2023, 03:11:06 PM

Short-term thinking is one of the wrong ways of accumulation to get rich quickly within the market has many new investors only thinking short term. And while the possibility of earning massive on a crypto investment, there is also the possibility of losing all funds to a bad investment move. Having a long-term investment plan/ mindset would help you choose your crypto investment more carefully and concentrate on picking high-quality projects with a long track record. Trying to get rich in just 90 days is a fast way of going broke but thinking about crypto investing as a multiyear process will help you build a more thoughtful crypto portfolio.

What's basically wrong is the mindset of getting rich quickly with cryptocurrencies, I know that it happens with some but that is purely out of luck, and general cryptocurrency investments can only provide you profit but won't magically make you rich overnight. So one needs to rectify their approach first and take this opportunity just as an opportunity to earn money, maybe even earn a living if done properly but shouldn't think of it as a get-rich-quick scheme.

People who enter the market with this approach will most likely waste their money investing in shitcoins hoping for huge gains and eventually losing their investments and then blaming cryptocurrencies for making them go broke which is actually the result of them becoming greedy and wanting a lot of money in a very short period of time.

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Quote from: Ale88 on August 18, 2023, 11:01:39 AM

Quote from: Lida93 on August 14, 2023, 01:03:35 PM

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

Investing and/or spending more than what you can afford is simply plain wrong in any field, it's not something exclusively bitcoin/crypto related: even the stock market could ruin you if you invest too much and it goes down, or also the payments for a house or a car.

It is good for us to diversify our portfolio of cryptocurrency so that when one is not doing well in the market, the other might be giving a good bull patterns which is a better way for us to split our investment. Our investments should not only be in cryptocurrency but in other sectors too so that when the Crypto market falls, we can still be proud of other investments that we have put our money.
For me, Bitcoin is the only currency that is safe to hold without having issues like rug pull or crashing like many of there crypto projects that had put there investors in pitiful conditions of losing there hard earned money.

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Quote from: Lorence.xD on August 18, 2023, 08:35:28 AM

I think that's pretty normal to a person's nature which is to earn, so they would find other ways or what we called "alternative" just to earn extra money. So people are aware on the short term potential of altcoins, if there's a potential of course there's also a cons like in Bitcoin. If you are a good investor or trader you would study the coin first before investing due to some coins are made just to get rugpulled by using hyped. Imagine Bitcoin as a known coin for having a huge potential and benefits but we are still aware from it's disadvantages right? Same way in altcoin, you'll need to gather information first if you will put your money at stake. I've actually profited on this alt coins such as meme coins but it's just a quick flip that you won't be planning to hodl for that long.

There is nothing wrong with that because everyone has their own preferences regardless of whether they are in altcoins or shitcoins. The problem is when a lot of people who don't really understand the conditions of what they are doing but try to follow which makes them ultimately experience their own losses.

I personally don't prohibit everyone from doing anything here because everyone has their own perspective but what needs to be considered is that we must be aware of whether or not our qualifications are capable of being on that path, when we don't really master how fast and what kind of shitcoin scheme then never try that because when we try something that is beyond our ability it is tantamount to gambling so that bitcoin must still be the main benchmark because when compared to altcoin or shitcoin then bitcoin is the safest.

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Quote from: Lorence.xD on August 18, 2023, 08:35:28 AM

Quote from: dothebeats on August 18, 2023, 07:59:57 AM

`

I think that's pretty normal to a person's nature which is to earn, so they would find other ways or what we called "alternative" just to earn extra money. So people are aware on the short term potential of altcoins, if there's a potential of course there's also a cons like in Bitcoin. If you are a good investor or trader you would study the coin first before investing due to some coins are made just to get rugpulled by using hyped. Imagine Bitcoin as a known coin for having a huge potential and benefits but we are still aware from it's disadvantages right? Same way in altcoin, you'll need to gather information first if you will put your money at stake. I've actually profited on this alt coins such as meme coins but it's just a quick flip that you won't be planning to hodl for that long.

Anyone with half a brain would tell you that looking for those quick profits is like playing with fire, especially in the volatile altcoin market. Sure, you've made some profits flipping meme coins, but lets be real: those short-term gains can't compare to the tried and true potential of Bitcoin.

While many chase after the next shiny thing, smart investors, the best investors, know where the real value lies. Furthermore, they would not waste their time with coins that could easily be "rugpulled." It's time to step up your investment performance. I've witnessed numerous people fall because they believed they knew better. Dont join their ranks. If you want to play in the big leagues, you need to think big, not chase after fleeting opportunities.

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Quote from: Ale88 on August 18, 2023, 11:01:39 AM

Quote from: Lida93 on August 14, 2023, 01:03:35 PM

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

Investing and/or spending more than what you can afford is simply plain wrong in any field, it's not something exclusively bitcoin/crypto related: even the stock market could ruin you if you invest too much and it goes down, or also the payments for a house or a car.

It will have a chain effect on you financially because you'll end up borrowing money from others, and that is where your budget will get short because you'll need to pay back what you have borrowed. If we can't afford it, then we should push it through because we will end up struggling. Just invest what you can afford. I mean, you can save for a couple of months if you can't afford it one at a time, but don't overstretch your budget on it.

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Quote from: Lida93 on August 14, 2023, 01:03:35 PM

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

Investing and/or spending more than what you can afford is simply plain wrong in any field, it's not something exclusively bitcoin/crypto related: even the stock market could ruin you if you invest too much and it goes down, or also the payments for a house or a car.

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Quote from: Prestongold on August 17, 2023, 03:11:06 PM

Short-term thinking is one of the wrong ways of accumulation to get rich quickly within the market has many new investors only thinking short term. And while the possibility of earning massive on a crypto investment, there is also the possibility of losing all funds to a bad investment move.

There's nothing bad to engage on a short time planning for your bitcoin investment since it's not a must for you to always go long, many can decide to go trading, while some can choose a specific entry period when the market is low to invest and within ba short period have the market rise and they make decision to release their investment.

Quote from: Prestongold on August 17, 2023, 03:11:06 PM

Having a long-term investment plan/ mindset would help you choose your crypto investment more carefully and concentrate on picking high-quality projects with a long track record.

Maybe we can also include this in asking what particular type of cryptocurrency investment are we making, is it on bitcoin or we are wasting time on some of the fake crypto projects which may turn out to scam after which we made an investment with them, we must think smart in this.

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Well o don't think anyone is late to investing in bitcoin and anyone having such mentality should have a rethink and restrategize on their investment plan.
Bitcoin investment isn't supposed to be pressured but rather at free will and there is a saying that we should only invest what we're willing to lose because nothing is guaranteed not even in bitcoin investment.
I don't know what must have prompted this thread, but this has been a very obvious observation and this is also a call for everyone to be careful and very personal about their investments as anything lost is always difficult to reclaim.

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Quote from: Lorence.xD on August 18, 2023, 08:35:28 AM

Quote from: dothebeats on August 18, 2023, 07:59:57 AM

Quote from: stomachgrowls on August 17, 2023, 06:26:03 PM

Quote from: Weawant on August 17, 2023, 06:06:19 PM

Quote from: Prestongold on August 17, 2023, 03:11:06 PM

Short-term thinking is one of the wrong ways of accumulation to get rich quickly within the market has many new investors only thinking short term. And while the possibility of earning massive on a crypto investment, there is also the possibility of losing all funds to a bad investment move. Having a long-term investment plan/ mindset would help you choose your crypto investment more carefully and concentrate on picking high-quality projects with a long track record. Trying to get rich in just 90 days is a fast way of going broke but thinking about crypto investing as a multiyear process will help you build a more thoughtful crypto portfolio.

When you think about investing in cryptocurency with a multiyear timeframe, it'll help you with your choices of investment as you're not look for quick profits, but coins like Bitcoin, Ethereum and other quality project will be included in your portfolio and you'll be patience holding.

You'll also not be rushing to invest as you'll take your time to study the market very well before investing and you won't be investing by buying all the coins immediately but instead you'll be accumulating slowly until you have reached your goals of investment into Bitcoin.

Short term thinking can lead you to losses more than it can lead you to profits when investing because when thinking of quick profits you'll be attracted to coins that are for short term and they'll not last in the market and all investors mightn't have the opportunity to make profits.

But we do know that not all does have the patience on holding for long term or time on which there would be those people who would really be preferring on seeing profits in a shorter time frame and this is the reason on why they would be definitely be engaging with some altcoins or even trying out to touch some meme coins for some possibility of quick profits and possibly that could earn tons of money in a short time but of course we do know that the risks is really that higher.

Accumulation would really be requiring that kind of determination specially when you are holding but initially on which it is really that needing that proper planning in terms of the money that you should only gonna spend.
Its true that there are people who are really just that impulsive or really that dont able to think up carefully in regards to this on which they are really doing such bad step or decision basing up on their accumulation.
Some do even make use of the amounts which are for emergency funds which it is really that too much or something that really in excess.

The temptation and attraction of earning faster or in a shorter period of time really drive people to invest in things like altcoins and meme coins. The attraction that fast-earning investments have brings people to forget about the risk that comes with it. We get too hyped over the idea of earning more profit in a short period of time that we forget about the possible negative outcomes the risk of it may cause. We forget that the greater the deal and benefit sounds the higher the risk it will cause.

I think that's pretty normal to a person's nature which is to earn, so they would find other ways or what we called "alternative" just to earn extra money. So people are aware on the short term potential of altcoins, if there's a potential of course there's also a cons like in Bitcoin. If you are a good investor or trader you would study the coin first before investing due to some coins are made just to get rugpulled by using hyped. Imagine Bitcoin as a known coin for having a huge potential and benefits but we are still aware from it's disadvantages right? Same way in altcoin, you'll need to gather information first if you will put your money at stake. I've actually profited on this alt coins such as meme coins but it's just a quick flip that you won't be planning to hodl for that long.

I also made quite a bit of money investing in altcoins and I used that profit to invest in bitcoin for the long term. if we have knowledge and method then investing in altcoin is very profitable but why do people hate it so much? aren't we here to make money? Why we focus only on bitcoin and ignore bigger opportunities? like we criticize those who only invest in gold and real estate and ignore the golden opportunity with bitcoin. but in the end, we are just like them, stubborn and stubborn to only invest in bitcoin and ignore the opportunity to make high profits from altcoins.

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Quote from: dothebeats on August 18, 2023, 07:59:57 AM

Quote from: stomachgrowls on August 17, 2023, 06:26:03 PM

Quote from: Weawant on August 17, 2023, 06:06:19 PM

Quote from: Prestongold on August 17, 2023, 03:11:06 PM

Short-term thinking is one of the wrong ways of accumulation to get rich quickly within the market has many new investors only thinking short term. And while the possibility of earning massive on a crypto investment, there is also the possibility of losing all funds to a bad investment move. Having a long-term investment plan/ mindset would help you choose your crypto investment more carefully and concentrate on picking high-quality projects with a long track record. Trying to get rich in just 90 days is a fast way of going broke but thinking about crypto investing as a multiyear process will help you build a more thoughtful crypto portfolio.

When you think about investing in cryptocurency with a multiyear timeframe, it'll help you with your choices of investment as you're not look for quick profits, but coins like Bitcoin, Ethereum and other quality project will be included in your portfolio and you'll be patience holding.

You'll also not be rushing to invest as you'll take your time to study the market very well before investing and you won't be investing by buying all the coins immediately but instead you'll be accumulating slowly until you have reached your goals of investment into Bitcoin.

Short term thinking can lead you to losses more than it can lead you to profits when investing because when thinking of quick profits you'll be attracted to coins that are for short term and they'll not last in the market and all investors mightn't have the opportunity to make profits.

But we do know that not all does have the patience on holding for long term or time on which there would be those people who would really be preferring on seeing profits in a shorter time frame and this is the reason on why they would be definitely be engaging with some altcoins or even trying out to touch some meme coins for some possibility of quick profits and possibly that could earn tons of money in a short time but of course we do know that the risks is really that higher.

Accumulation would really be requiring that kind of determination specially when you are holding but initially on which it is really that needing that proper planning in terms of the money that you should only gonna spend.
Its true that there are people who are really just that impulsive or really that dont able to think up carefully in regards to this on which they are really doing such bad step or decision basing up on their accumulation.
Some do even make use of the amounts which are for emergency funds which it is really that too much or something that really in excess.

The temptation and attraction of earning faster or in a shorter period of time really drive people to invest in things like altcoins and meme coins. The attraction that fast-earning investments have brings people to forget about the risk that comes with it. We get too hyped over the idea of earning more profit in a short period of time that we forget about the possible negative outcomes the risk of it may cause. We forget that the greater the deal and benefit sounds the higher the risk it will cause.

I think that's pretty normal to a person's nature which is to earn, so they would find other ways or what we called "alternative" just to earn extra money. So people are aware on the short term potential of altcoins, if there's a potential of course there's also a cons like in Bitcoin. If you are a good investor or trader you would study the coin first before investing due to some coins are made just to get rugpulled by using hyped. Imagine Bitcoin as a known coin for having a huge potential and benefits but we are still aware from it's disadvantages right? Same way in altcoin, you'll need to gather information first if you will put your money at stake. I've actually profited on this alt coins such as meme coins but it's just a quick flip that you won't be planning to hodl for that long.

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A lot of people think btc is sure-money and while in a sense there’s some truth to it, they still need to understand there’s always gonna be risks. Giving all your money to something, btc or not, is always not a good thing. There would definitely be some people who’ll see their money grow tremendously which makes them want to invest all their money. Same concept with gambling if you think about it except investing isn’t based on luck but rather extensive knowledge on the market. It’s hard to regain control over oneself when everything that’s happening is good. You feel good so you don’t think of the other bad things that could happen. Well, that’s one unfortunate thing.

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Quote from: stomachgrowls on August 17, 2023, 06:26:03 PM

Quote from: Weawant on August 17, 2023, 06:06:19 PM

Quote from: Prestongold on August 17, 2023, 03:11:06 PM

Short-term thinking is one of the wrong ways of accumulation to get rich quickly within the market has many new investors only thinking short term. And while the possibility of earning massive on a crypto investment, there is also the possibility of losing all funds to a bad investment move. Having a long-term investment plan/ mindset would help you choose your crypto investment more carefully and concentrate on picking high-quality projects with a long track record. Trying to get rich in just 90 days is a fast way of going broke but thinking about crypto investing as a multiyear process will help you build a more thoughtful crypto portfolio.

When you think about investing in cryptocurency with a multiyear timeframe, it'll help you with your choices of investment as you're not look for quick profits, but coins like Bitcoin, Ethereum and other quality project will be included in your portfolio and you'll be patience holding.

You'll also not be rushing to invest as you'll take your time to study the market very well before investing and you won't be investing by buying all the coins immediately but instead you'll be accumulating slowly until you have reached your goals of investment into Bitcoin.

Short term thinking can lead you to losses more than it can lead you to profits when investing because when thinking of quick profits you'll be attracted to coins that are for short term and they'll not last in the market and all investors mightn't have the opportunity to make profits.

But we do know that not all does have the patience on holding for long term or time on which there would be those people who would really be preferring on seeing profits in a shorter time frame and this is the reason on why they would be definitely be engaging with some altcoins or even trying out to touch some meme coins for some possibility of quick profits and possibly that could earn tons of money in a short time but of course we do know that the risks is really that higher.

Accumulation would really be requiring that kind of determination specially when you are holding but initially on which it is really that needing that proper planning in terms of the money that you should only gonna spend.
Its true that there are people who are really just that impulsive or really that dont able to think up carefully in regards to this on which they are really doing such bad step or decision basing up on their accumulation.
Some do even make use of the amounts which are for emergency funds which it is really that too much or something that really in excess.

The temptation and attraction of earning faster or in a shorter period of time really drive people to invest in things like altcoins and meme coins. The attraction that fast-earning investments have brings people to forget about the risk that comes with it. We get too hyped over the idea of earning more profit in a short period of time that we forget about the possible negative outcomes the risk of it may cause. We forget that the greater the deal and benefit sounds the higher the risk it will cause.

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Quote from: lienfaye on August 18, 2023, 12:25:12 AM

Quote from: Lida93 on August 14, 2023, 01:03:35 PM

What are your own thoughts on wrong ways you think people follow in bitcoin accumulation.

These investors needs to educate themselves to know if they're doing it the right way. One of the usual mistake is investing the money that they can't live without due to high expectation, and because of greed. This is the advantage if you're an old investor, aware how the market works and used to seeing the market in bearish season so it doesn't create panic.

Those who think they missed the chance (comparing the previous price to the current) because the value is already expensive didn't realize that it's not really late if your goal is to hold for long period (even for short term, as long as you know how to timing the market).

the things that are their biggest enemy are themselves, where greed, fear, which is a psychological pressure that must be regulated in such a way so that we can control it, we must correct the wrong mindset, considering that currently many consider the price to be expensive so they do not dare to buy it , even though if we know the characteristics of the market then we will be able to understand that opportunities will always come and we don't need to worry about them, therefore we need knowledge

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Quote from: Lida93 on August 14, 2023, 01:03:35 PM

What are your own thoughts on wrong ways you think people follow in bitcoin accumulation.

These investors needs to educate themselves to know if they're doing it the right way. One of the usual mistake is investing the money that they can't live without due to high expectation, and because of greed. This is the advantage if you're an old investor, aware how the market works and used to seeing the market in bearish season so it doesn't create panic.

Those who think they missed the chance (comparing the previous price to the current) because the value is already expensive didn't realize that it's not really late if your goal is to hold for long period (even for short term, as long as you know how to timing the market).

Topic: Wrong way to accumulate. - page 2. (Read 812 times)