Buy Buy Buy or Sell Sell Sell?

[bitcoin_mining]

Well said,I agree with your point except where you said Exchanges are safe to hold Bitcoin. I believe this is not the first time investors have been warned never to use centralize exchanges to Hold their Bitcoin assets because they can be hacked. Its fine if your using this exchanges to buy Bitcoin but it's not ideal to hodl because of the risks. Rather than Hodl your bitcoin stash with this exchanges where you don't have complete control over your asset,I prefer you start making use of a non custodian wallet to store you Bitcoin. A non custodian wallet is safer and it allows you to have complete control over your asset through your seedphrase.

If the investor has a long-term plan for investment, then I think it will not be safe to use all these accounts at all, but it will be safer to use his software wallet or hardware wallet. For example, I am talking about Kucoin Exchange, initially I thought this exchange was safe, but the activities they are currently doing with the users seem like fraud to me. Looking at their user reports on the Play Store, I can understand this much that they are suspending most of the users' accounts and asking them to fill out a form, when the users give all the information in the form to the support, the support is not accepting them, and in many cases it is seen that the support is not replying to the messages of the users. Now those who had a small amount of money in all these exchange accounts and whose accounts have been suspended may not feel too bad, but imagine the state of mind of those who have a lot of money in their accounts but their accounts have been suspended. So I would say that software wallets are much safer compared to all these exchange accounts.

[Mame89]

Well said,I agree with your point except where you said Exchanges are safe to hold Bitcoin. I believe this is not the first time investors have been warned never to use centralize exchanges to Hold their Bitcoin assets because they can be hacked. Its fine if your using this exchanges to buy Bitcoin but it's not ideal to hodl because of the risks. Rather than Hodl your bitcoin stash with this exchanges where you don't have complete control over your asset,I prefer you start making use of a non custodian wallet to store you Bitcoin. A non custodian wallet is safer and it allows you to have complete control over your asset through your seedphrase.

If the investor has a long-term plan for investment, then I think it will not be safe to use all these accounts at all, but it will be safer to use his software wallet or hardware wallet. For example, I am talking about Kucoin Exchange, initially I thought this exchange was safe, but the activities they are currently doing with the users seem like fraud to me. Looking at their user reports on the Play Store, I can understand this much that they are suspending most of the users' accounts and asking them to fill out a form, when the users give all the information in the form to the support, the support is not accepting them, and in many cases it is seen that the support is not replying to the messages of the users. Now those who had a small amount of money in all these exchange accounts and whose accounts have been suspended may not feel too bad, but imagine the state of mind of those who have a lot of money in their accounts but their accounts have been suspended. So I would say that software wallets are much safer compared to all these exchange accounts.

Almost all exchanges have experienced suspensions, and it's also common for exchanges to be suspended during periods of opportunity whether buying or selling while the exchange is undergoing maintenance. This is certainly detrimental to us if we miss moments of price fluctuations, as transactions on the exchange increase during times of price fluctuations or any news release, and the exchange always justifies maintenance.

Therefore whether small or large it's best not to store your assets on an exchange. No exchange guarantees the security of your assets, as they can easily suspend your assets or some exchanges go bankrupt, and so on. For the long term, it's best to use a wallet that you can control yourself. This is sometimes overlooked by many, especially beginners, who assume top exchanges will be safe for their assets. Investing in Bitcoin is full of risks, especially when it comes to wallets, so don't take wallet security for granted.

[SmartCharpa]

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

Most people that don’t have proper knowledge about bitcoin do see bitcoin as a Ponzi scheme, and that’s why most people do end up jumping into it, they believe they can easily make quick money from bitcoin investment, but things doesn’t work like that, if you jump into bitcoin investment, then you going to end up regretting at the end because you definitely going to lose. People that claim they having signal groups are the set of people that makes bitcoin investment looks like a Ponzi scheme, they are ready to say anything just for people to join their group.

If you are investing in bitcoin, then you shouldn’t be having the mindset to make profit within a short period of time, your intention is to hold for long term, and if you are holding, then you should learn the appropriate way to hold your bitcoin so that you won’t end up losing your bitcoin after holding for years.

Sure, many people get it wrong these days because of the people they believe online, claiming to have signals for the right time to invest in Bitcoin. Those ones are purely traders chasing quick profits, and out of greed you can lose everything before you even know it. Most of them only do this to earn for themselves. They create groups that newbies can join and blindly believe everything they say, and at the end of the day, when those newbies lose money, they quickly conclude that Bitcoin is just like any other investment.

However, there is nothing like timing the market when it comes to Bitcoin investment. You cannot outsmart the market or predict if it will go down in the next hour or tomorrow. As you said, the only mindset to have when investing in Bitcoin is long term growth, not to be deceived by anybody who claims they can predict how the market will move anytime soon.

[Finebone]

.

However, there is nothing like timing the market when it comes to Bitcoin investment. You cannot outsmart the market or predict if it will go down in the next hour or tomorrow. As you said, the only mindset to have when investing in Bitcoin is long term growth, not to be deceived by anybody who claims they can predict how the market will move anytime soon.

I support all that you said here because you are right, timing the market thinking that you can  outsmart it is the best possible way to waste valuable opportunity and time that should have been used to buy more Bitcoin.

I don't know how most investors are looking at Bitcoin but in my own opinion, Bitcoin is just like a teenager that is still growing, so their is much room for growth in price and value, so that means that this current price is no where near where it might rise up to in the future, so buying it now consistently without looking at the price is a good thing to do because in the future we will all be in a huge profit.

[Sim_card]

I decided to start looking for a safe exchange where I can buy and hold my Bitcoin for a very long term.

Mate don't get it twisted and end up losing all your money, time and energy on investing and accumulating bitcoin for a long time and end lose it all to an exchange due to your carelessness of believing that exchange are safe to use in storing your bitcoin in a long term. You are not the owner of your bitcoin when it's stored in an exchange because you don't have the private keys and your coins are prone to hack, exist scam by exchanges. Your account can get frozen at anytime. We have seen exchanges like FTX that crashed and customers lost their funds.

Bitcoin gives us the right to be our own bank due to her decentralized nature and by storing your bitcoin in a open source noncustodial wallet where only you have the private keys. It's better to store your bitcoin in a cold storage wallet either a hardware wallet or set up an electrum cold storage wallet where you generate the keys in an airgapped device. 70% of your total bitcoin investment can be stored in an offline wallet, 20% in a hot wallet and 10% in an exchange. It depends on how you want it.

Business and salary income can be used for other things like paying bills and as well as having emergency funds and reserved funds, then whatever is leftover could be the discretionary income meant for investing in bitcoin, it’s a simple logic.

No mate, you don't use your income or salary to set up your emergency funds reserve funds but your discretionary income. Because first of all, you should take care of your basic needs and monthly expenses before you can use whatever is left as your discretionary income to invest into bitcoin and build up your emergency funds and reserve funds as you have started your bitcoin investment buy sharing your discretionary income to two parts.

 You use one part to buy bitcoin every week and the other part to build your emergency funds for at least three months of your monthly expenses simultaneously with your bitcoin investment

[MusaPk]

Sure, I would like to read more posts that were better drafted and even clearly based on personal experiences, yet we have some bots in these threads and we also have some members who are heavily dependent on translation services, so they sometimes are communicating their ideas in very confusing ways.   I have had interactions with MusaPk in the past, and I believe that MusaPk is a real person.. but there is no way for me to really know for sure about whether MusaPk is a real person with those kinds of confusing ideas (or confusing ways of presenting some of his ideas).

I am a real person with real ideas and I haven't utilised any bot or translation services for presenting my ideas. You can ignore my previous posts on discretionary income as I have clarified my point of view in this post. I just mixed discretionary income with income generated through other means like income generated from freelancing or by doing some part time job.  

There is nothing wrong with this statement from MusaPk regarding the fact that sometimes folks might not make enough money through their primary employment in order to feel that they have enough discretionary income, so sometimes they might conclude that the solution for them to increase their discretionary income is to pursue additional sources of income, which increases their discretionary income since their expenses might be mostly already covered by their first (primary) job (or business as MusaPk mentioned as a possiblitity).

I received a WhatsApp message today, it was in Urdu language and it's English translation is, "If in year 2025 your pocket is empty despite having access to WiFi, ChatGPT and Laptop then you are not unlucky rather you are not serious".

There are folks who have good salaries but there are people who are not having good salaries and such people can increase there income by doing some kind of extra work. The money generated from extra earnings can be used to buy Bitcoins, in this way we can hold our Bitcoin for many years. It's year 2025 and we must plan now that where our Bitcoin portfolio will stand in year 2035.  

[HistoLock]

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

Most people that don’t have proper knowledge about bitcoin do see bitcoin as a Ponzi scheme, and that’s why most people do end up jumping into it, they believe they can easily make quick money from bitcoin investment, but things doesn’t work like that, if you jump into bitcoin investment, then you going to end up regretting at the end because you definitely going to lose. People that claim they having signal groups are the set of people that makes bitcoin investment looks like a Ponzi scheme, they are ready to say anything just for people to join their group.

If you are investing in bitcoin, then you shouldn’t be having the mindset to make profit within a short period of time, your intention is to hold for long term, and if you are holding, then you should learn the appropriate way to hold your bitcoin so that you won’t end up losing your bitcoin after holding for years.

Sure, many people get it wrong these days because of the people they believe online, claiming to have signals for the right time to invest in Bitcoin. Those ones are purely traders chasing quick profits, and out of greed you can lose everything before you even know it. Most of them only do this to earn for themselves. They create groups that newbies can join and blindly believe everything they say, and at the end of the day, when those newbies lose money, they quickly conclude that Bitcoin is just like any other investment.

However, there is nothing like timing the market when it comes to Bitcoin investment. You cannot outsmart the market or predict if it will go down in the next hour or tomorrow. As you said, the only mindset to have when investing in Bitcoin is long term growth, not to be deceived by anybody who claims they can predict how the market will move anytime soon.

We often see such incidents, but those who will give you signals about Bitcoin or come online and start giving you knowledge about it are actually hypocrites and they are after you for their profit. But especially beginners have to be careful about this because they will show you the tendency to get rich quick and make comments that you will be able to profit quickly, if you fall into their trap then you will be cheated. But if you want to invest in Bitcoin, it will not be right to take advice from such hypocrites because even if you cannot analyze the market, you can invest, you just have to be patient and hold on for a long time. But no one can predict 100% about Bitcoin. So I would say that you invest in Bitcoin for the long term to get your results, then it will be good for you.

[Shadiq]

We often see such incidents, but those who will give you signals about Bitcoin or come online and start giving you knowledge about it are actually hypocrites and they are after you for their profit. But especially beginners have to be careful about this because they will show you the tendency to get rich quick and make comments that you will be able to profit quickly, if you fall into their trap then you will be cheated. But if you want to invest in Bitcoin, it will not be right to take advice from such hypocrites because even if you cannot analyze the market, you can invest, you just have to be patient and hold on for a long time. But no one can predict 100% about Bitcoin. So I would say that you invest in Bitcoin for the long term to get your results, then it will be good for you.

To learn about Bitcoin, you need to know about trusted sources. It is not that the sources online are not good or fake, basically you need to learn to differentiate between fake sources and honest sources. You can differentiate this by using common sense, such as whether the sources are giving misleading information, talking negatively about Bitcoin or pushing you towards temptation by showing unrealistic dreams. If you are a regular member of the forum, then I can say that you are in a reliable place to learn about Bitcoin. Here you can get the right knowledge of Bitcoin through many experienced people and learn about investing. A newbie should never get involved in short-term investments or Bitcoin trading, because these are very risky which can be the main reason for newbies to lose money. Get familiar with long-term investments and believe in long-term investments.

[ruykeri]

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

I don't agree with your argument, I have a different opinion on this matter. A person does not need additional knowledge or additional money to start investing in Bitcoin, Along with basic vision, it is very important for a person to have a discretionary income. Slowly a person can gain specific knowledge about Bitcoin and become more aware of cash, as well as increasing their confidence in Bitcoin. There is nothing complicated about starting investing in Bitcoin for beginners, if you have self-confidence and interest in learning about Bitcoin, a person can gradually gain specific knowledge. Along with this, long-term investment is very important. By patiently investing in Bitcoin by following the right rules, you can make a profit in the long run.

I don't understand how you separated additional money and discretionary income. Actually, a person's discretionary money is created only if he has discretionary income. If a person has some extra money after all his expenses for the whole month, that is his discretionary income and additional money is created from that income. If someone wants to invest in Bitcoin, then first of all he must have discretionary income which you mentioned and he must have the ability to learn about investing in Bitcoin. If he has the interest and desire to know about this, then he will gradually learn everything about investment and will know the process of investment in the right way. As a result, his chances of success in the future will increase.

[Emjay24]

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

Many people especially beginners sometimes buy Bitcoin without thorough knowledge simply following trends especially now that Bitcoin is at a high price.

You're wrong, you don't need a deep knowledge to get started in Bitcoin. You only need basic knowledge and to be sure you've discretionary income available to kick start your investment into Bitcoin. Waiting to grasp a deep knowledge about Bitcoin may take you a very long time and you wouldn't ever be confident that you've learned enough, so you may never buy and hold Bitcoin.

Learning is a continuous process and as you're buying and holding Bitcoin, you would be more inclined to learn better and faster about it because a practical approach is the best way to learn. Bitcoin is for the long-term, so getting involved now does not matter, being price cautious would prevent you from starting. The goal is to accumulate as much quantities of Bitcoin in order to increase your chances at good profits. In case you're afraid of buying at the top, this is why we have DCA strategy which would enable you to buy both the high and the low and  be able to smoothen the volatility effect on your investment.

Delaying in your investment journey isn't the best practice, as long as you've discretionary income present you ought to get started so that you don't end up wasting lots of time and missing out on acquiring a decent portfolio for yourself.

[De seer1]

[Edited out]

Hahaha so funny of him with his narration and I saw that jayjuanGee has already given him an sMerit for such post, infact what he was saying was completely out of the line and it kept me wondering how a discretionary income generation stands on it's own if not gotten from either your job salary or business after the basic needs expenses has been taken care of, I can't stop laughing on reading that post, some time I wonder how members grow up to a certain extend and still be making some kind of statement, to me it shows that he doesn't even know what he was actually saying and what it stands for but is fine we learn every day.

I believe Jayjuangee merited him because he is not completely wrong and also because he actually shifted the interest of investors from the regular sourcing of discretionary income from the basic income source into bringing our mind to also sourcing discretionary income from additional income source. To an extent, sourcing discretionary income from additional source of income is more stress-free because it allows you to use your major income source to tackle family problems.

Let's take for example, most people signed to campaigns also have other jobs they do out there but most people basically invest in bitcoin from their campaigns. This does not mean that some people don't invest beyond their campaigns but it shows how your additional source of income could be a strict source of discretionary income with which you can invest in bitcoin and maintain your DCA approach.

I agree that a person could have a main source of income and then derive additional income that might be almost completely discretionary income by having other jobs and/or even investments that generate income that might be almost exclusively discretionary income.

Accordingly most if not all of the expenses of a person could be sufficiently covered by the income of a primary job, and then various secondary jobs and/or investments could provide additional income that would be most if not almost all discretionary income..

It is also true that some jobs (income) might cause additional expenses, such as transportation, clothing, food, lodging, yet the extra jobs might generate enough extra income that they pay the extra expenses and they generate extra discretionary income that the person concludes is worthy of his time and energies to carry out the extra jobs or the extra ways of generating income.  

Of course, each of us may well question the extent to which it is worth giving up our extra time in order to earn extra income, so there can be tradeoffs in regards to whether the extra income is more valuable or whether it is more valuable to have the extra time, and sometimes it can be smarter to not gain extra short-term income in order to study or to spend time building up social networks that might result in better pay and better positions further down the road, so instead of making $10-15 per hour, maybe the person could earn $50-$60 per hour in some promotion position based on his learning other skills and even volunteering his time in positions that were either unpaid or of lower pay but lead to positions of higher pay further down the road.

Accordingly there can be questions regarding the extent to which additional jobs are needed or even required in order to increase discretionary income.

Sometimes it may well be better to obtain a job that pays very well, rather than to obtain a bunch of low paying jobs that suck a lot of time and energy out of a person, and maybe do not even allow a person time to build himself, his interests and/or his skills.

From my own personal experience juggling my Bitcoin accumulation and side hustles, this is how i look at it. I beilieve my primary income should be able to cover my essential/core expenses like my rent, bills, food and other essentials that keeps me stable. Every other thing like passive income stream or side gigs is where i can flex and further grow the power of my discretionary spending.
But the catch there is that, not all extra incomes or side hustles are the same or created equally, some tend to be more time consuming, costs more transport or other gears than they are actually giving you, especially when you factor in the opportunity cost. Whenever I figure out that the job actually eats into my ability to invest my time in learning or acquiring other skills that may likely unlock higher returns for me in the future, then it's definitely a losing game for me and the best thing would be to just let it go so i can have the time to focus on other things too. And this is exactly the reason why i mostly tend to focus on scaling value than volume. rather stacking a bunch of low paying side gigs that'll only burn me out at the end of the day without giving me the due compensation, i tend to sort for other ways to level up, even if it means learning new skills that'd create more room for much higher paying/earning opportunity, or making some sort of strategic investments that tends to grow quietly in the background. And sometimes, it could require one to completely shut out short term cash in order to aim for a much bigger earning in the long term.
In the long run, it's mostly more a balance between maximizing one's cash flow and also preserving one's bandwidth to something that is way more sustainable, could be a business, a portfolio or even a career. Because i don't believe that an a particular income is actually worth it if it prevents or deprives you the time and energy to explore other better options and potentially grow your finance or income beyond the current point that you are.

I keep on wondering why discretionary income can keep on generating in dependently if it is not what remain from your salary or any of the  business  before covering  basic expenses, it look funny some how it shows  that sometimes people say something without really understanding the concept. we all are still learning, having some extra stream of income can really make it easier to regulate your core income and take some proper care of your responsibility.

[sotelorene]

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

Most people that don’t have proper knowledge about bitcoin do see bitcoin as a Ponzi scheme, and that’s why most people do end up jumping into it, they believe they can easily make quick money from bitcoin investment, but things doesn’t work like that, if you jump into bitcoin investment, then you going to end up regretting at the end because you definitely going to lose. People that claim they having signal groups are the set of people that makes bitcoin investment looks like a Ponzi scheme, they are ready to say anything just for people to join their group.

If you are investing in bitcoin, then you shouldn’t be having the mindset to make profit within a short period of time, your intention is to hold for long term, and if you are holding, then you should learn the appropriate way to hold your bitcoin so that you won’t end up losing your bitcoin after holding for years.

Sure, many people get it wrong these days because of the people they believe online, claiming to have signals for the right time to invest in Bitcoin. Those ones are purely traders chasing quick profits, and out of greed you can lose everything before you even know it. Most of them only do this to earn for themselves. They create groups that newbies can join and blindly believe everything they say, and at the end of the day, when those newbies lose money, they quickly conclude that Bitcoin is just like any other investment.

However, there is nothing like timing the market when it comes to Bitcoin investment. You cannot outsmart the market or predict if it will go down in the next hour or tomorrow. As you said, the only mindset to have when investing in Bitcoin is long term growth, not to be deceived by anybody who claims they can predict how the market will move anytime soon.

We often see such incidents, but those who will give you signals about Bitcoin or come online and start giving you knowledge about it are actually hypocrites and they are after you for their profit. But especially beginners have to be careful about this because they will show you the tendency to get rich quick and make comments that you will be able to profit quickly, if you fall into their trap then you will be cheated. But if you want to invest in Bitcoin, it will not be right to take advice from such hypocrites because even if you cannot analyze the market, you can invest, you just have to be patient and hold on for a long time. But no one can predict 100% about Bitcoin. So I would say that you invest in Bitcoin for the long term to get your results, then it will be good for you.

First of all you should take away greed from you before you can be able to resist and not fall victim for these people because the moment you have greed inside you and you can't control it, it will definitely make you to believe and listen to whatever these people will tell you because you are interested in quick gain and profit which doesn't work that way and it is not even certain to make this profit. First we should know that we can not predict Bitcoin price and doing that is a waste of time but investing is better because you don't need to predict the price neither are you in for quick profit but rather long term return which will be very massive if we hold for long.

[Proty]

Well said,I agree with your point except where you said Exchanges are safe to hold Bitcoin. I believe this is not the first time investors have been warned never to use centralize exchanges to Hold their Bitcoin assets because they can be hacked. Its fine if your using this exchanges to buy Bitcoin but it's not ideal to hodl because of the risks. Rather than Hodl your bitcoin stash with this exchanges where you don't have complete control over your asset,I prefer you start making use of a non custodian wallet to store you Bitcoin. A non custodian wallet is safer and it allows you to have complete control over your asset through your seedphrase.

yes it is really a bad idea to hold bitcoin in an exchange since we don't have complete control of our assets aside from the fact that it can be hacked the exchange itself can come up with one policy or they can just decide to disable one account without any tangible reason. If I should recount my experience with kucoin, it was not really funny at all they just wake up one morning and then decide to place my account on withdrawal suspension without no just cause. Luckily for me  I wasn't using it to hold bitcoin, so I was actually wondering what would have been my faith if I was actually holding my bitcoin there. What you are saying is right non custodial wallet is the best because one can never encounter this kind of problem I had with kucoin in non custodial wallet.

[justinlamode]

You arevcorrect many people dive into Bitcoin investment because they heard that people are making hudge profits from it which is not making sense, Bitcoin investment is not something you can just dive in and expect to make hudge profits within a short period of time, why because Bitcoin is not a puzzle scheme (get Rich quick something), Bitcoin investment is a game of patent and consistency you can only make reasonable profits from it when you accumulate a good portion of it and hold for Long team 4 to 10 years or more.

If you want to make more profit by investing in Bitcoin for a short period of time, then it will be trading, and if you want to hold Bitcoin, then you must hold Bitcoin for a long time. If you want to hold Bitcoin, then any investor must use the DCA method, then it will definitely help him hold it for a long time. If a person wants to keep Bitcoin for a long time according to his correct thinking and planning, then he needs to have a period of stability of at least two bull runs (8 to 12 years). And if he allocates money for Bitcoin investment every week or month and collects it according to the DCA method, then he will definitely be successful in the end. Because if he invests Bitcoin according to the DCA method, he has a higher chance of success.

Your statement is misleading in the sense that trading does not guarantee that an investor will making big profits and very fast. The reality of most traders is that they lose money because trading is a risky business. Statistics has it that as high as 95%of traders fail, a number that may seem too high and impossible but it is true. This is why it is better to put energy in buying and holding Bitcoin rather than trading it for quick profits because such is like a trap.

If you adopt one of the accumulation methods, preferably the DCA method and set a 10 years buying and holding plan, you will reduce the pain you will get from painful losses from trading and end up richer than you can imagine. This is a more reliable thing to do than nurturing the idea of trying to predict Bitcoin moves in other to profit from it.  

[Lembo69]

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

Most people that don’t have proper knowledge about bitcoin do see bitcoin as a Ponzi scheme, and that’s why most people do end up jumping into it, they believe they can easily make quick money from bitcoin investment, but things doesn’t work like that, if you jump into bitcoin investment, then you going to end up regretting at the end because you definitely going to lose. People that claim they having signal groups are the set of people that makes bitcoin investment looks like a Ponzi scheme, they are ready to say anything just for people to join their group.

If you are investing in bitcoin, then you shouldn’t be having the mindset to make profit within a short period of time, your intention is to hold for long term, and if you are holding, then you should learn the appropriate way to hold your bitcoin so that you won’t end up losing your bitcoin after holding for years.

Sure, many people get it wrong these days because of the people they believe online, claiming to have signals for the right time to invest in Bitcoin. Those ones are purely traders chasing quick profits, and out of greed you can lose everything before you even know it. Most of them only do this to earn for themselves. They create groups that newbies can join and blindly believe everything they say, and at the end of the day, when those newbies lose money, they quickly conclude that Bitcoin is just like any other investment.

However, there is nothing like timing the market when it comes to Bitcoin investment. You cannot outsmart the market or predict if it will go down in the next hour or tomorrow. As you said, the only mindset to have when investing in Bitcoin is long term growth, not to be deceived by anybody who claims they can predict how the market will move anytime soon.

We often see such incidents, but those who will give you signals about Bitcoin or come online and start giving you knowledge about it are actually hypocrites and they are after you for their profit. But especially beginners have to be careful about this because they will show you the tendency to get rich quick and make comments that you will be able to profit quickly, if you fall into their trap then you will be cheated. But if you want to invest in Bitcoin, it will not be right to take advice from such hypocrites because even if you cannot analyze the market, you can invest, you just have to be patient and hold on for a long time. But no one can predict 100% about Bitcoin. So I would say that you invest in Bitcoin for the long term to get your results, then it will be good for you.

and doing that is a waste of time but investing is better because you don't need to predict the price neither are you in for quick profit but rather long term return which will be very massive if we hold for long.

To get long-term returns, you have to wait for at least 2 cycles. This will increase your portfolio very easily. And it will make you realistic, as a result of which you will easily understand why you should invest for the long term and why you should hold on. The money you allocate for investment should be from a money that you will not need for the next few years, so that there is no pressure on your investment. Long-term investment is easy to say but difficult to do, because at this time the investor is in a lot of trouble. And he does not hesitate to lose his investment. So if you want to reach your plan and earn more profit, you must invest for at least 10 years. And you have to build yourself as a long-term investor.

[JayJuanGee]

Understanding its potential is crucial from the outset. Realizing Bitcoin's immense profit-generating potential will spark interest in learning the basics. Learn what Bitcoin is, how to own it, and other fundamentals before proceeding. Everything we want to learn and explore further can be discovered throughout our investment journey, and once we experience the benefits, it will motivate us to continue accumulating more Bitcoin and achieving our long-term goals. This is why it's important to understand Bitcoin from the outset for the long term, giving us time to accumulate more Bitcoin, increase our knowledge, and increase our profits.

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

Many people especially beginners sometimes buy Bitcoin without thorough knowledge simply following trends especially now that Bitcoin is at a high price. However they won't be prepared for the high price fluctuations that can lead to panic. However if you have knowledge and have thoroughly studied Bitcoin when fluctuations occur they won't panic because they know that price fluctuations are perfectly normal and can even present opportunities to buy at a discount and hold for the long term. In short investing in Bitcoin requires not only knowledge but also mindset to ensure long term investment.

Is bitcoin risky because it is volatile or for some other reason(s)?

You believe that a newbie to bitcoin needs to learn about bitcoin before starting to invest into it?

Sure, I would like to read more posts that were better drafted and even clearly based on personal experiences, yet we have some bots in these threads and we also have some members who are heavily dependent on translation services, so they sometimes are communicating their ideas in very confusing ways.   I have had interactions with MusaPk in the past, and I believe that MusaPk is a real person.. but there is no way for me to really know for sure about whether MusaPk is a real person with those kinds of confusing ideas (or confusing ways of presenting some of his ideas).

I am a real person with real ideas and I haven't utilised any bot or translation services for presenting my ideas. You can ignore my previous posts on discretionary income as I have clarified my point of view in this post. I just mixed discretionary income with income generated through other means like income generated from freelancing or by doing some part time job.  

There is nothing wrong with this statement from MusaPk regarding the fact that sometimes folks might not make enough money through their primary employment in order to feel that they have enough discretionary income, so sometimes they might conclude that the solution for them to increase their discretionary income is to pursue additional sources of income, which increases their discretionary income since their expenses might be mostly already covered by their first (primary) job (or business as MusaPk mentioned as a possiblitity).

I received a WhatsApp message today, it was in Urdu language and it's English translation is, "If in year 2025 your pocket is empty despite having access to WiFi, ChatGPT and Laptop then you are not unlucky rather you are not serious".

There are folks who have good salaries but there are people who are not having good salaries and such people can increase there income by doing some kind of extra work. The money generated from extra earnings can be used to buy Bitcoins, in this way we can hold our Bitcoin for many years. It's year 2025 and we must plan now that where our Bitcoin portfolio will stand in year 2035.  

Sure we invest for the future, including 10 years or more into the future.

I was not suggesting increasing income by getting involved in questionable online income generation, but yeah of course, each person tries to figure out what is available to him and also how to balance his time, energies and value in order to figure out how he can build his wealth and improve his future options, whether his target is 10 years down the road or some other timeline.

[Mr Reporter]

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

Most people that don’t have proper knowledge about bitcoin do see bitcoin as a Ponzi scheme, and that’s why most people do end up jumping into it, they believe they can easily make quick money from bitcoin investment, but things doesn’t work like that, if you jump into bitcoin investment, then you going to end up regretting at the end because you definitely going to lose. People that claim they having signal groups are the set of people that makes bitcoin investment looks like a Ponzi scheme, they are ready to say anything just for people to join their group.

If you are investing in bitcoin, then you shouldn’t be having the mindset to make profit within a short period of time, your intention is to hold for long term, and if you are holding, then you should learn the appropriate way to hold your bitcoin so that you won’t end up losing your bitcoin after holding for years.

Sure, many people get it wrong these days because of the people they believe online, claiming to have signals for the right time to invest in Bitcoin. Those ones are purely traders chasing quick profits, and out of greed you can lose everything before you even know it. Most of them only do this to earn for themselves. They create groups that newbies can join and blindly believe everything they say, and at the end of the day, when those newbies lose money, they quickly conclude that Bitcoin is just like any other investment.

However, there is nothing like timing the market when it comes to Bitcoin investment. You cannot outsmart the market or predict if it will go down in the next hour or tomorrow. As you said, the only mindset to have when investing in Bitcoin is long term growth, not to be deceived by anybody who claims they can predict how the market will move anytime soon.

We often see such incidents, but those who will give you signals about Bitcoin or come online and start giving you knowledge about it are actually hypocrites and they are after you for their profit. But especially beginners have to be careful about this because they will show you the tendency to get rich quick and make comments that you will be able to profit quickly, if you fall into their trap then you will be cheated. But if you want to invest in Bitcoin, it will not be right to take advice from such hypocrites because even if you cannot analyze the market, you can invest, you just have to be patient and hold on for a long time. But no one can predict 100% about Bitcoin. So I would say that you invest in Bitcoin for the long term to get your results, then it will be good for you.

and doing that is a waste of time but investing is better because you don't need to predict the price neither are you in for quick profit but rather long term return which will be very massive if we hold for long.

To get long-term returns, you have to wait for at least 2 cycles. This will increase your portfolio very easily. And it will make you realistic, as a result of which you will easily understand why you should invest for the long term and why you should hold on. The money you allocate for investment should be from a money that you will not need for the next few years, so that there is no pressure on your investment. Long-term investment is easy to say but difficult to do, because at this time the investor is in a lot of trouble. And he does not hesitate to lose his investment. So if you want to reach your plan and earn more profit, you must invest for at least 10 years. And you have to build yourself as a long-term investor.

Just as you have made mentioned in some case allowing your investments to grow over a long period can lead to significant returns due to compound interest.

Pulse also  Investing for the long term can help you ride out market fluctuations and avoid making impulsive decisions based on short-term volatility.

And aslo over the years i have also experiened that multiple market cycles can help you develop a more realistic understanding of investing and the importance of patience.

[7juju]

If you want to make more profit by investing in Bitcoin for a short period of time, then it will be trading,

Your statement is misleading in the sense that trading does not guarantee that an investor will making big profits and very fast. The reality of most traders is that they lose money because trading is a risky business. Statistics has it that as high as 95%of traders fail, a number that may seem too high and impossible but it is true. This is why it is better to put energy in buying and holding Bitcoin rather than trading it for quick profits because such is like a trap.

I don't see what's misleading from what the OP said, I think it's you that's contradicting yourself. We are not interested with whatever statistics of what happens with traders whether 95% or 100% of them fails, It is the fate that we already know will befall them from the beginning that's why people are encouraged to stay away from such practices. The OP only said if you are chasing profits in a short term that you are a trader and I agree with that. Nothing misleading there.

[Cyber_warrior]

If you want to make more profit by investing in Bitcoin for a short period of time, then it will be trading, and if you want to hold Bitcoin, then you must hold Bitcoin for a long time.

The risk which is in trading is just so high, when you are trading, you should have it in mind that you can easily lose your money, and that’s the reason why I don’t always encourage people to trade, if you want to make money in crypto space, then the best thing which you are suppose to do is just to buy and hold your bitcoin, holding bitcoin is just less risky compare with trading, or trying to hold for short period of time. When it comes to crypto, we shouldn’t be in rush to make money.

I know people are trading and making money, am not against that, but you should know that not everyone that claims they are making money from trading are really making money, some are just deceiving peoples, and what they do lose is always more than what they earn.

[DYOR+BTC]

Understanding its potential is crucial from the outset. Realizing Bitcoin's immense profit-generating potential will spark interest in learning the basics. Learn what Bitcoin is, how to own it, and other fundamentals before proceeding. Everything we want to learn and explore further can be discovered throughout our investment journey, and once we experience the benefits, it will motivate us to continue accumulating more Bitcoin and achieving our long-term goals. This is why it's important to understand Bitcoin from the outset for the long term, giving us time to accumulate more Bitcoin, increase our knowledge, and increase our profits.

Snip

Is bitcoin risky because it is volatile or for some other reason(s)?

Well if I am to answer the question of puloweh555, I will say yes, that's why it's risky but it can not be Risker than shitcoin despite it's ups and down. People just use the word risky because Bitcoin is a decentralized currency that is not controled by a centralized authority which means anything can happen depending on people decision, but however that is even enough reason why Bitcoin can not be much risky. Because Bitcoin would have been Risker if it was a centralized coin which can be manipulated and perhaps it may even fall to zero when man or centralized entity decide to  manipulate it. But since it is not like that, I have every right to say Bitcoin is not a risky investment despite the claims of being risky. There is no force that can pull it down. The statement risky is just there toake people believe that anything can happen since it is an online investment but I don't see the possibility of any risk happening to Bitcoin even in the near future.

You believe that a newbie to bitcoin needs to learn about bitcoin before starting to invest into it?

I don't think so, they just need to have some basic knowledge and start right away than procrastinate or wait to be fully prepared before starting, as that will delay the time of investment since Bitcoin is not waiting for anyone. As time goes on the more Bitcoin is becoming more expensive than before, that is enough reason why people need to have the basic knowledge and start right away.