Wrong way to accumulate. - page 3. | Bitcointalksearch.org

stomachgrowls

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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.

romero121

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Until a person find himself to be wrong or right, there is nothing to correct. The person does it based on his understanding about the market. Every people try to have their own technique and strategy while accumulating bitcoin. The best being buy when the price is at the bottom. It is really tough and the same could make us miss opportunity to buy at the lowest price. For this reason it is good to spend specific amount regularly on buying bitcoin. Along with the same DCA is really good against buying as a whole.

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

Basically almost every bitcoiner is in for accumulation committing certain amount of investment with a timeline to it. It could be for short term or long term plan.

Accumulating Bitcoin as an asset for investment is a wise thing to do, especially if we really have the mindset to invest more healthily. But what might have an impact here is how the process goes. Because when someone is accumulating their Bitcoin assets, surely this will not be as smooth as they expect. There will be a phase where worry will strike, especially for those who are sort of term holders. Because the price of Bitcoin suddenly dropped drastically as is happening now. The value of our assets will also decrease drastically. Now this certainly won't be a problem for long term holders who do have principles. But if it's new people and short term holders, then they could consider this a disaster.

Weawant

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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.

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.

Hypnosis00

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

Basically almost every bitcoiner is in for accumulation committing certain amount of investment with a timeline to it. It could be for short term or long term plan.

And I did as it was important that it was included in our plan to whether our investment would be long-term or short-term so we can also easily decide when to sell.

Quote

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.

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

It was stressful if we keep looking at the market chart. An investors, we are not day traders who have to check the market every day because we already have a timeline for when to sell our Bitcoin. We just check it when it was almost near because if we keep checking it that possibly will affect our mindset and goal and supposedly not. In order to stay on our goal, we don't have to do this but just check the market when it was already near.

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Quote from: lionheart78 on August 14, 2023, 03:43:35 PM

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.

I agree with what you stated. Aside from that, people tend to move when they are hyped, one of the wrong move of people who are investing in Bitcoin is that they are carried away by the hype. They only start buying when the news is already selling. This will give them a disadvantage because when that time comes, the price has already started surging. so they end up buying an inflated price of Bitcoin. It is best to accumulate when the news is still silent. Other investors tend to avoid buying when the market is in its bear market, they don't think that a bear market is the best time to accumulate.

You got it right. People always doubt whenever it’s new in the market but the moment it got hyped, then they hurriedly buy bitcoin even without prior research on how to do proper accumulation. That is already their first faults in the market, investing when the price is hyped and buying bitcoin without studying how it works in the market. With greed, people continue to accumulate and invest in bitcoin all their hard-earned money thinking that it will always results into huge profits. And the moment they start losing, unfortunately they will begin to attack bitcoin saying all negative stuffs that makes bitcoin a big scam to the eyes of the people.

lousie9

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Quote from: Ahli38 on August 17, 2023, 08:57:14 AM

I totally agree with what you said in this matter. Because investing in bitcoin for the long term must be done with full calculation and there is also no need to rush. We can accumulate slowly and little by little. And of course only use money that is ready if you have to lose. In the sense of cold money that will not be used in the long term. And cold money is usually the money left over after we have met all the necessities needed to support our daily lives. Accumulation with cold money will keep our mentality healthy and not disturbed at all. The point is we have to control ourselves and keep prioritizing the most important needs in our lives and only then invest in bitcoin.

You are absolutely right and I agree that investing in Bitcoin is an activity that cannot be done in a hurry because we also have to learn basic knowledge about investing in Bitcoin and understand what risks will be faced.
If we want to invest, of course we have to do various careful calculations and the most important thing is that we have to adjust to our current conditions and we should use "cold money" to invest in Bitcoin so that our investment activities don't become a burden for us.
But sometimes some people don't have good investment risk management, for example those who are too brave to take risks and are greedy to put all their assets or money in and there are even some people who just sell their property to invest in Bitcoin and do not care about the risks involved.

Mate2237

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Quote from: freedomgo on August 17, 2023, 08:57:01 AM

People see bitcoin as a get rich quick tool especially if they have witnessed some friends who are into bitcoin and are now living their lives in luxury. Because of envy and greed, they start to accumulate bitcoin the wrong way believing that if they’ll just invest a small amount, their progress will take a lot of years. Eventually, by putting all their hard-earned money into bitcoin without prior research and studies, they end up losing all their money instead. That only proves that investing in bitcoin will never be profitable if you put pressure into it. Bitcoin investment can never guarantee profitability at all times, but if you follow the rules with knowledge and patience, and invest in it for no definite time or target, most likely you will reap positive results in the end.

You have said it all and nailed them on the table. And there are some friends that also making the situation worse. Because they too did not tell those their friends the risk involved in the investment. And the friends on their part did not bother to ask questions to know more and all what they need is to make the quick money and unknown to them that bitcoin investment take time to ripe and not instant rich. In the contemporary world, greedy and envy are the elements in the world. So one has to be careful with friends. Because they can do anything to get rich this days.

People don't want to do research again and all what they like to do is to invest and get money faster and that has led many to early grave. As you said, if they are patient to invest long term investment and bitcoin rise up to the ATH, they will definitely make it if they use big amount but because of their thoughts in getting quick rich they are always faster than their shadow.

Prestongold

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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.

Cryptomultiplier

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For me BTC accumulation is more about have a right investment strategy or should I say savings strategy that would be maintained according to ones earnings, for a duration.
It is more like saving up crypto for future use. I don't think there is any wrong way to do it, except being too strict or stringent about that one fails to pay heed to other affairs of life.
Also, there may be the case of not knowing the right way to accumulate, in this case, a mentor or brokerage or broker is necessary so as not to loss all coins to ignorance.

mvdheuvel1983

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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.

Do not be too motivated or excited to default on your strategy or plan in accumulation of bitcoin at whatever period you have planned. If you plan to invest $50 per week, the individual should stick to it even if something happens and they suddenly have a $100 that week. If you default on that plan for that week, you would mess it up for the rest of period and may become inconsistent in the amount you have decided to invest per week.

Drawing from the last analogy, do not neglect your basic and financial needs in a bid to accumulate bitcoin. It is the fastest way to become demotivated. Have a plan, a budget and stick to it.

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Quote from: Litzki1990 on August 16, 2023, 12:59:42 AM

Every investor has a certain plan according to which they usually invest. Many people plan for long term investment and many people plan for short term investment and there are some investors who plan for long term investment but when the market increases more than their expectations they sell their investment ihow investors invest it totally depends on an investor. People who are more risk-averse in investing and have more money invested usually decide to invest for a longer period of time. Most of the investors invest with risk in the initial stage, but later due to market changes, they cannot hold their investment and sell their investment with some loss of money. Investors who can take the risk and hold Bitcoin through good and bad times ultimately succeed in investing.

The cryptocurrency market is basically not for people who don't have enough patience to hold onto their assets when there is a bad time because when you panic and sell your assets as soon as the market starts dipping, you can never get anything out of your investments because you will be losing more money than you will possibly get with that mindset. A person needs to have diamond hands to become a successful investor in the cryptocurrency market.

And, these kinds of people who can't control their urges to sell when the market dips a little bid basically become the reason for widening the dips and making them go deeper because they start panic selling which causes further declines in the market, and then a dip that could be a small one becomes bigger.

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Quote from: Bananington on August 17, 2023, 12:35:18 PM

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.

The wrongest(I know there is no word like this) way I know people accumulate bitcoins is by robbing other people and ripping them off the bitcoins that they have kept, or making them buy bitcoins and send to them by deceiving these people. Scammers can get a huge amount of bitcoins in their keep from a successful scam they carry out on someone.

In a day, they can have more bitcoins than someone who has been gathering bitcoin for a long time. This is a really wrong way to get and accumulate bitcoins, people who do this deserve to face the law.

It one of the worst way ever to gather bitcoin and there's no word to exactly punch it on in describing the behavior or actions. And people should be discouraged from accumulating bitcoin by illegal means. The psychological trauma and pains people go through when they had to lose their coins to scam or hackers who by way of brute force got their money stolen is something I wouldn't wish my enemy especially when it got to do with huge sum of money.

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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.

The wrongest(I know there is no word like this) way I know people accumulate bitcoins is by robbing other people and ripping them off the bitcoins that they have kept, or making them buy bitcoins and send to them by deceiving these people. Scammers can get a huge amount of bitcoins in their keep from a successful scam they carry out on someone.

In a day, they can have more bitcoins than someone who has been gathering bitcoin for a long time. This is a really wrong way to get and accumulate bitcoins, people who do this deserve to face the law.

bussybuddy

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The reality is, many investors are often caught up in their emotions and are overly optimistic about Bitcoin's growth potential based on the past.

However, adopting a long-term investment model and treating Bitcoin as a special asset should not make us ignore the fact that the cryptocurrency market is highly volatile and can change rapidly. While learning from the past can be helpful, we also need to ask whether the situation might change in the future and whether new factors might influence trends.

karabiber

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The biggest mistake I have observed in my environment is greed while saving Bitcoin or any valuable asset. Let's say that the savings made while saving Bitcoin are bought at a good price and Bitcoin starts to gain value. Bitcoin continues to rise. So what do we do in this case? The key answer will be to be patient and stick to the plan but most people will then sell their savings.
Starting to act late can be one of the important mistakes made while saving. You may think that it is not time to buy for Bitcoin accumulation, but in fact, you are in the beginning of the bull market.

As Bitcoin rises, you stop buying and decide to buy at peaks. I would not say that the investment to be made after this part will be very profitable. In summary you should be patient when investing and you should not be late for anything. You should constantly follow the market and not miss the news feeds. Remember, this is a market that doesn't sleep 24/7.

Emmanuelex

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It's always good to take it slow and steady. When I invest in Bitcoin I always have a target of what I would like to achieve and I don't really rush things or change plans no matter what happens next. So whatever plan I set, I always make sure to follow it through to the end. That's just it for me. If you try to rush or look at things that are happening in the market, sometimes you might just make a wrong move.

yazher

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When it comes to investment in bitcoins a simple step is recommended to follow especially when the money is not fully yours or you just borrowed it from your families and friends, then this kind of investment is not wise when you put everything to bitcoins because considering the movement of the price, it could be your worst nightmare if volatility will occur and they badly needed their money back from you.

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

Basically almost every bitcoiner is in for accumulation committing certain amount of investment with a timeline to it. It could be for short term or long term plan.

Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

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.

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

What I think is that it is not people's fault that they invest more than their budget because it is bitcoin after all.
Bitcoin has created a reputation and trust that it is bound to achieve new heights in price which is the foremost reason why everyone wants to get their hands on it.
Even I have been trying to accumulate as much as I can and will continue the same. But you do have a point that sometimes over investing kills our goals instead of achieving it.
Sometimes we have to sell at the wrong time just because we don't have that emergency fund we should have since we used it in over investing in bitcoin.

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Quote from: nelson4lov on August 17, 2023, 09:31:30 AM

I have the opinion that Bitcoin is still at its early stage despite a decade already gone as the technology is still new in most parts of the world especially areas that have been bounded by border-only payment networks. So I tend to think that anytime is a good time to get into Bitcoin and the crypto space as there would hyper growth in the coming years when the technology become the de-facto payment and storage of value system of the global financial system. Although the price might take downswing any other day but these are opportunities to acquire more and average down.

I don't subscribe to the opinion that we're still in the "early adoption" phase. Bitcoin's global recognition rate is too high for that to be true. Pretty much every adult has heard of Bitcoin at least few times in their lives even if they haven't registered that (i.e. because they're not interested in finance/technology).
That's not to say BTC has no room to grow. I can easily envision a scenario when it surpasses gold in terms of marketcap, but times of it doing x100 in one cycle are probably gone for good.

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