Topic: Wrong way to accumulate. - page 4. (Read 812 times)

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.

One of the most common opinions is that I started buying bitcoin late. A person begins to enter the race, invests more money than he can afford, this then leads to other mistakes.
I really liked the idea that you are never late for bitcoins. Every time will be right

It's wrong to set a limit to your bitcoin accumulation especially if you're not a rich person, if you're able to DCA to slowly accumulate your bitcoin, I don't see the point of stopping at some point especially if you can't really reach 1 bitcoin anytime soon, hell even at 1 bitcoin I don't think it's worth to stop accumulating because at this moment, you're racing against time when the next bullrun happens, you don't want to be stopping right now when in the next bullrun, the price floor couldn't ever become this low. Also, don't be spending your bitcoin when you don't have to, and don't buy bitcoin when you know you won't be paying the bills completely or be eating good this month, prioritize self-care over investment in bitcoin.

People had overthink about Bitcoin as they think that investing in here will guarantee huge profits but not knowing the huge risk that they are going to face after buying. Too late to realize but I believe this particular saying - learn from our mistakes. Though we don't want to commit mistakes but whether we like it or not, this really gonna happen to all of us.
I'd say that investing in Bitcoin is not wrong what it makes difficult to earn is due to the actions and the market responses that we made - usually we fall into wrong decisions that causes major losses and fail our goal.

Not looking at the risk but looking at the profit possibility is the number one mistake any rookie could make. You have to realize that you are not going to end up making that type of profit, there is no need for that and you should be careful with what you are doing. If you are careful about it then we are going to end up with something much better in the end as well.

However, this isn't really anything that would be profitable neither, and I believe that we need to be considering the situation that would be profitable if you are taking a bigger risk than you should. Take as little risk as you possibly could on the biggest profit you could make with that little risk. Take a look at risk first, then take a look at profit possibility.

I think the basic thing there is that everyone must not follow the sequence how others should be, and for any investment the investor should know the risk associated with it and be able to manage it properly. Over sometime people do not look at the risk but rather centered their efforts on the profits aspect which actually makes them not to for long time, understanding the purpose of investment always helps in securing and safeguarding their investment without being haste to sell.

About the cushion, well as I think is another way to help your investment not to be altered since it's serving as a reserved fund. And however, anyone who doesn't invest through his income or basic income where then do they get their money to invest or to keep accumulation of their bitcoin, Yes I know and it's a valuable asset that doesn't need to be altered but sincerely speaking you need something reserved fund or cushion to help you allow your investment last longer than expected as the case maybe.

~
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.

The variability of an individual's income ($50 to $1000k, as you mentioned) should never deter them from understanding the real value proposition of Bitcoin. It's about time people realize that Bitcoin isnt just another asset to diversify one's portfolio. It is THE asset that can potentially hedge against systematic financial risks, if you're smart enough to see its potential.

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.

Accumulation period and processes can never be measured or quantified with another since our basic income are never the same and people tends to stock gradually in respect to their monthly investment plan and this could only be possible if only the set some target, or a projection to what amount can be used to accumulate bitcoin.

There are some people who may want to speedily buy and hold since they already missed the line and this could be a challenging time for those who aren't financially stable as others and of course, there's no point competing while they knows that bitcoin accumulation only follows by your basic salary saving plan (this could be daily, weekly or monthly) but provided that you have income that keeps flowing accumulating bitcoin wouldn't be that difficult and of course, it won't if only you there a savings inform of cushion that would serve for the period of your investment.

This cushion would be as a reserved fund that would cater for your expenses maybe after when there is no active job and or work at hand to keep your accumulation process going the cushion would served a long way to keep footing for your expenditures when there is no active job and this would make you not to alter your plan or quickly haste to sell off your bitcoin without your predicted and determined plans for your holdings till you secure another job at hand to keep your investment processes going.

This depending on the amount that keeps coming by the end of the month, it could be 50$ to 1000k and as a good bitcoin investor or a bitcoiner who believes so much in bitcoin might 30 to 50 percent investment plans out from your total monthly income or basic salary, at this point also create out your cushion and reserve fund plan to back your bitcoin accumulation period. This alone will assure you a successful bitcoin saving plan and would as well last for whatever year without being in haste to cheaply sell of your bitcoin.

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.