Bitcoin Forum

Some set of people when they here how much someone has gotten from Bitcoin or has made from Bitcoin investment they just want to start thinking they can just go into it and make same amount of money they saw or heard someone made, if you hear something about someone making huge amount of money from Bitcoin investment you need to ask questions and do some research before going into Bitcoin investment because some set of people thinks Bitcoin investment is a Ponzi scheme where you can just start making money so easy.
I know some set of people who created a wallet and started accumulating Bitcoin when they later discovered they need to hold for long period of time they became disappointed and stopped.
So before going into Bitcoin investment try to know about it and how it works don't just start because you heard about someone's testimony.

If you are talking about the huge amount of money one can make through bitcoin investment please also talk about the sacrifices one has to make so you won't mislead people who don't have knowledge about Bitcoin investment, because accumulating and holding for some years is a sacrifice one has to make in other to succeed in Bitcoin investment.

If they created their non custodial wallets for Bitcoin accumulation and storage, it's good enough.

Because they already did good first importance practice, be their own banks and did not store their bitcoin on online platforms where they never have private keys of their bitcoins.
Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.0)

Your example means they began their bitcoin accumulation around Euphoria phase and stucked in a bear market, because if they enter the market luckily enough, they can get profit and take it during a bull market.

Psychology of market cycle. (https://fifthperson.com/psychology-market-cycles/) Newbies in this market will have to read this one and absorb it as most as they can because it is vital for their investment.

Understand about market history too.
The history of Bitcoin bull runs and crypto market cycles. (https://www.kucoin.com/learn/crypto/the-history-of-bitcoin-bull-runs-and-crypto-market-cycles)
Here’s How Long the Bitcoin Bull Market Could Last if History Repeats Itself (https://dailyhodl.com/2025/02/01/heres-how-long-the-bitcoin-bull-market-could-last-if-history-repeats-itself-according-to-crypto-analyst/)

Looking for where to start to learn on your own about Bitcoin? Here is my most recommended advice to newbies on where to start.  I'll share mk4 compilation for those need to start from somewhere. It has helped me immensely and I hope it does so for you too. Here it is below.

This advice is not just valid in Bitcoin investment, all businesses need to be studied before investing. All businesses have intricacies and risk, therefore it is important to do an in depth studies to avoid mistakes. Those who want to make instant money from crypto industry should not consider investing in Bitcoin because they will be disappointed. Maybe they should consider ponzi scheme or buying pump and dump coins. And I hope they know the consequence of such highly risky investment.

I am also concerned about these kinds of people and how they are able to put money into 1 thing that they don't know like they are easily convinced by what they see on the internet - the social media effect, a lot of people are these. That's why sometimes I say to my mind when I can see people like this "Social media effect".

I really admire the famous quote "Don't invest in the things you don't know". Because a lot of people now are only driven or lured by other people without validating or learning also from by theirself.

Exactly, investing in Bitcoin doesn't enough to change life.

DCA-ing Bitcoin only double your money after 4 years, if you earn $20,000 now your money worth $40,000, it's a good amount rather than leave our money in banks or invest guaranteed profit asset, but still it's not rich.

Only OGs, traders, millionaires/billionaires make a lot of money in Bitcoin.

Many people are like this, they are greedy enough to start their journeys but on another side, they are lazy enough to skip all necessary basic learnings about thing they are interested in for investment.

They can simply step in, make their buyins and let it go like how destiny is freely to decide their investment or bet result. Alternatively they can ask someone like their relatives, friends to invest on behalf of them. I was contacted by some people like this, and years ago I helped them but shortly after a few months, I was bored because they are very annoying. By lacking knowledge, no true own experience in this volatile market, they only knocked my door when they want to take profit, were panic with corrections. It's first reason, and another reason I don't like is: I no longer want to take risk by storing bitcoin for them. If by any reason, I lost their bitcoins, I am fully responsible for it. It's very big risk!

They want profit, easy life, but they put all risks on me. It's unfair and I no longer accept such request from anyone.

Is it even possible to define what "a lot of money" is?

For someone living in a country where they can earn less than $100 a month, even $10 000 is a small fortune that can change their life - for someone living in Japan, the UK or one of the richer EU countries, that money is no life changer.

Furthermore, not all early investors in BTC are rich, because in addition to those who lost access to their wallets, there are also those who sold a lot before it could bring them any significant wealth. As for traders, research shows that only about 5% of them are in profit, and the question is how many of them can actually say that they earn a lot of money, and how many just stay above zero.

Bitcoin is much more than a tool for generating profit, but that has clearly become something that very few people will agree on.

before starting to invest your money in bitcoin it is necessary to do research on important things in bitcoin investment, such as how to buy it, what are the risks, and various other things. just hearing stories about people who get a lot of money from bitcoin investment and jumping straight in without doing research and without knowing the risks, it's the same as risking your money, because you only base it on the belief that you can get money from it, but when the market moves not according to expectations then you will make reckless decisions and make you sell without considering more deeply. understand the risks first and do research, then decide to enter and invest in the long term.

It is important we filter what we hear from others so we are not overly excited to the extent of making irrational decisions. I have noticed that people tend to hype information about bitcoin especially when trying to convince another to invest in bitcoin. This is where many people develop greed and the mindset of quick profits and end up running into problems. Anyone introducing bitcoin to anyone should endeavour to encourage them to think long term because that is the only way huge and peaceful profits can be achieved.

That is called FOMO (Fear of missing out) ever wondered why Bitcoin gets high adoption when ever there is a bull run. It is so funny to me that people discuss/interested in Bitcoin more during a bull market and are uninterested when there is a bearish market, when rightfully it's best to get in during the bear Market.
My personal experience teaching people about has been a bit bitter because they are always interested on if Bitcoin guarantees them gains, they don't care how it works or any other thing. I think we are having more people that are only interested in profit getting into Bitcoin.

It is common sense to do research before investing. Not only Bitcoin, but in any market you invest in, you need to do research and gain proper knowledge about the market before you start investing. If you are an avid investor, it is normal for you to get stuck in a bear market and be disappointed, unless you are lucky enough to make the right decision without knowing it.

Bitcoin investment is not an investment that will turn you from poor to rich. Bitcoin will give you the same profit as a bank, maybe a little higher, but it will offer more advantages than a bank in terms of security and privacy. If you are entering Bitcoin with the aim of getting rich quickly, then you are in the wrong place. You may benefit more from Bitcoin in the long run if you can survive in Bitcoin for a long time.

It all lies down as investor whether new or not that we need to know what we are investing, and where we are putting our money. It's simple as that but I understand that the situation that has examples of OP is truly happening in real life. People invests because they're emotional and when they've heard success stories, they are quick to get into the same boat without having the need to understand what they are investing and that's wrong in all angles. That's no matter how long an investor will take time for researching for the assets they are going to entrust their money, it is going to be worth it as long as the effort is exerted and the research has been conducted.

Most people joining the crypto space now are joining just because they hear that people are making money from bitcoin investment, or they see it on social media that people are making money, and they also decide to jump into it without making proper research before they put money in bitcoin. That’s why, at the end, most of them do end up losing money, some will end up being scammed, just because they lack proper knowledge before investing.

When you hear that people are making money from bitcoin investment, what we should do is take our time to learn about that we are planning to put money into, don’t rush because you see people making money through bitcoin investment. Some people think bitcoin investment is a get rich quick scheme, some people don’t even know they can lose money when they invest in bitcoin.

This information is not new. Honestly, no one should act ignorant, or blame their failure on Bitcoin or the person that introduced them to Bitcoin investment when, in reality, they themselves are the problem. Everyone knows that before investing their money in anything, not just Bitcoin, they must first make inquiries and conduct their own research to ensure that what they are investing in is genuine and to know also the risks involved. Any investor who gets carried away by all the good things people say without conducting their own research has only themselves to blame if things go wrong. Imagine falling into the hands of scammers simply because of your own carelessness and greed...

You have a very nice point because accumulating and holding bitcoin not only deals with sacrifice but also with patience, commitment, and consistency. Without these 4 components, you will never be able to accumulate enough bitcoin and hold it for a long time, which is the mistake that lots of people are doing, and in the end, they will feel like they are just losing instead of gaining because most of the people that just jump into bitcoin investment without knowledge tend to sell all that they have already accumulated on a loss because they have that fear that when the dump comes, bitcoin will not rise again.

That is why in anything in this life you need knowledge, which of you have undergone enough research as a newbie in bitcoin investment; it will not be hard for you to know about all that, but due to higher curiosity, you tend to bypass research and invest directly; that is the most mistake people make in bitcoin.

I agree Bitcoin should always be considered as a risky investment into a highly volatile asset, easy to steal and to scam. So people should always only invest into it what they can afford to lose. On top of that, it's never a good idea to start investing into an asset when it's price is already at it's all time high. It's better to wait a bit for it's next dip, instead of getting driven by FOMO and hype

When it comes to telling someone about Bitcoin investment I try as much as possible to separate the hype from its reality, I've seen too many people rush into Bitcoin investment without doing the due diligence, no proper understanding or research  and at the end they end up being disappointed or losing money. When talking about Bitcoin investment to newbies I never forget to talk about the realistic expectations so for them not to fall for any get rich quick schemes, Bitcoin is a long term game that requires patience and most importantly a solid understanding of the game.

i have come across some people who dont really know about bitcoin to be a coin that is volatile, they just think buying bitcoin they will start making good profit from it. some people are just okay with the imagination they have towards bitcoin which they dont even have any interest to make research to get a better knowledge of it. people always have challenge with their bitcoin investment because they feel their is no need to know about it but when people choose to invest without any plans of understanding it always challenging to yield profit from the investment.

starting an investment with the hope of making profit from it without having a good understanding of what it is will always end in regret ande lose, the first step of making a successful investment is to first of all get understanding about the investment .

It does not necessary mean they should invest in Bitcoin after hearing the hype on it. It will be foolish to just invest in anything even aside Bitcoin without making your own research before getting the conviction to invest. As for me i will never go to tell someone to invest in Bitcoin unless they come to me. And if they come to me i will always tell them the truth about investment. They can go short term or long term depending on what they want but i will tell them the importance of long term over short term.

Bitcoin investment is a very common thing which everybody tend to venture with a positive mentality that Bitcoin would definitely give them what they want, and of course as we know everyone is their cryptocurrency expert and they knows things fo happen within the next move but if they don't study carefully they still ends up losing their investments. But if they must hold for long it's better they secure their seed phrase firmly and forget about the investments till the year want to sell off their investments.

All these are just theory while in practice even people who are in the industry that understands the market still panic and make wrong decisions. Still in the industry we are still subject to the effects of FOMO and FUD. Majority of the people in bitcoin today were attracted by this hype that happens especially during bull run. So, we shouldn't expect the difference or blame the newcomers. No matter how you preach, people are gonna buy the peak and the market will definitely dump on many people.

Is obvious that majority of this investors who are actually new in this crypto space just decided to dive into investing in crypto currency due to the success stories/ testimony they saw in the media, without knowing that those folks who are testifying on how they made a huge amount of money through crypto investment made a lot of sacrifices before they get profited from crypto investment.

 you know most people don't always think about this aspect, Instead they will always want to hear the juicy part of it. without knowing that there is always a risk in whatever thing that requires puting our money before we can get profited from it, Which is why most people always end up experiencing lose in the market.

DYOR - it stands for do your own research.

The world of Bitcoin will open itself up to you if you seek to know and understand it better. Research if the foundation of becoming an excellent investor. I have yet to meet anyone successful investor who doesn't invest their time in doing research in the area of their investment. That is how you are able to see the opportunities that regular investors will not see and you take advantage of it.

The fact is that everyone will be forced to invest in Bitcoin upon hearing the profit made from it without thinking about the risk or sacrifice in HODLing Bitcoin for long.  Everyone is willing to be rich but no One want to pay the sacrifice.  Impatient is one factor that affects majority of people nowadays, they always see reason to why they need money so quickly and they jump into anything that will yeild them money without proper verification or without considering the the things involved. It is good for people to make proper research before involving in such investment but however many will still fall victim afterall.

It always does not take 4 years, and I am sure you know that. Sometimes, you can double your money in a few months. I remember I was able to gather 0.1 BTC and moved it to a wallet when the price was around 27K to 29K. I guess it was probably only a year ago. Look where Bitcoin is now. My Bitcoin portfolio would have been $9.5K today if I hadn't sold it to invest in altcoins.

Sometimes, only a year is enough to triple your money. But if you invest when the price is already at its peak, it may take more than four years to recover and make some profit. It all depends on when and how you invested your money.

Most people sharing their success stories do so as if success is easy. They fail to include the prices they paid in success stories, thereby giving newbies the mindset that success can be easily obtained with minimal efforts.

It's always advisable to DYOR and go for consultation with someone already practicing in the field and recording success already so you can get details of the struggles and constraints.

Bitcoin is a good investments, but it involves series of disciplines and sacrifices for you to be a successful bitcoiner.

I agree with you, I have never been a fan of people who invest in what they don't understand, yes Bitcoin is promising but a lot of people invest without knowledge about Bitcoin or people educating people they tell or advice to invest in cryptocurrency, and when events like Bitcoin crashing to 10% - 20% of its gains, you see this set of people start panicking, but when they understand and go about their investment into Bitcoin with the right investment approach and using proper risk management, that's is to say investing with the money they have no Intention of using in the near future,  you would see them not get bothered when such events occur.

There's no definition, millionaires/billionaires invest $100M and after 4 years the money worth $200M, is a lot money. Traders who start from $100 and after 4 years, they have $1 Million is also a lot money.

Of course people who earn $100 per month and can make $10,000 in Bitcoin will change their life, but nowadays you need a lot sacrifice to get it. Let's say they live frugal in order to save $50 per month to buy Bitcoin, after 8 years their investment would be $9,899.45. You have $10K, but it takes 8 years and with a lot sacrifice... I don't think it's worth it.

Yeah it's not easy, that's why not many people can make much in Bitcoin.

Not many people dare to buy Bitcoin when the price was $100 per coin and hold for 8+ years. Not many people can become traders. But, my points is still relevant,

True, but I mentioned using DCA strategy since a lot people use this.

Someone can buy Bitcoin at $5K in 2020 and sold at $60K in 2021, but not many people dare doing that including myself.

https://imgvb.com/images/2025/02/24/f2f98f51fe515e3c488f435a7949ad10.png

Different people also have different ways to invest. Describing myself, I started Investing because I heard my friend's profits. Another motive is that I want to add pocket money for me. But the difference is that I study seriously. I heard and I started analyzing by trying. Another important thing is the belief to survive. Because I have fallen and I understand the risk. So I continued to fight hard and survive to this day. I feel lucky and happy that I have found happiness from Bitcoin Investing. Motivation, strength is an important issue, he who doesn't have it is likely to stop and try other things.

When you have a lot of money and you can freely invest that money in something without fear of running out of food on the table, then you can earn a lot, there's no doubt about it. This is the reason why the rich become even richer very easily, and the poor can never reach them unless they win the lottery.

However (except perhaps in some exceptional cases) I can hardly imagine someone investing $100 and becoming a millionaire in 4 years by trading cryptocurrencies.


This is just confirmation that there are few who know how to recognize an opportunity, and that there are many who are waiting for some kind of sign from above (government, banks, influential people) to do something with their money. After 15 years, some still doubt that BTC will survive and say that it is just another in a series of online ponzi schemes that will sooner or later fail.

Not a fan but rather I discourage people for doing it since they are bound to lose their money if they commit mistake and do wrong approach towards investing on Bitcoin.

So while its early for them to participate and play with the risk they better learn first about what they can possible experience while they are on investment process of this coin. Since we cannot eliminate the risk and just say that Bitcoin is easy quick rich scheme since people would provably face many difficulties and those risk  may cost them some money if they don't pay much attention on what they are doing. So research to know more about what they are trying to do is important so that they would know what to do with their money when they are going to invest on Bitcoin.

The learning curve with BTC is real  I jumped in during 2011's crash thinking I'd just ride it back up. Didn't study market cycles or understand what I was really buying. Ended up panic selling at a 30% loss during a flash crash, only to watch it recover a week later. Most expensive lesson I've ever paid for. Now I DCA and actually understand what I'm investing in. Those "overnight success" stories usually skip the 5+ years of holding through brutal downturns.

Making researches or doing so much findings about bitcoin investment is not necessary to me, you can invest then start making your researches. Sometimes, seeking for too much knowledge about an investment can be very stressful and can even lead to changing your mind because after you must have learnt about the risks, the ups and down and the challenges you might encounter while investing in bitcoin, it can make you to change your mind but if after you have invested and hear those negative sides of bitcoin, you can become courageous to continue without caring if you will encounter any challenge in the future. Knowing too much is not good, all you need is just to get started before choosing to know more about bitcoin investment.

Yes, that is right because we can not just invest our money to something that we don't know for sure.

We must research before we join so we are sure that we know the important part from the investment. We can not just join like other people because we have different information. We must make sure everything that we can pass every process.

If you just want to invest in Bitcoin, you don't have to use much money. But you need to learn more before you make a big decision investing in a big money. That will not recommend to do as you don't know what will happen later. It is better you use DCA method that many people suggested so you can invest your money routine.

People usually look at too short time-frame charts like 1 hour, 30 minutes, 15 minutes, 5 minutes and they forget about overview. Like the yearly chart easily gives very good overview of Bitcoin performances over time and through market cycles.
https://charts.bitbo.io/yearly-candles/

When you understand about Bitcoin market cycle, you can have plans for your investment, entries, exits and make better plan for Bitcoin accumulation in a bear market. DCA strategy only can help if you have good plan and prepare capital very well too.

Many people are very impulsive in their decisions. Having heard that someone has received good interest from their investments or gambling, they rush to repeat this "success" without hesitation and without thinking about the consequences, naively thinking that they will be late. It can also be added that scammers are very good at calculating such people, relying on their greed. The effect of shortened time and haste makes people lose their money.

We can talk about any investment, although the OP is talking about bitcoins; any financial transaction should not be quick. It is necessary to study all the points, and all the subtleties, and think through any accidents that are possible, deciding what to do in extreme situations. If you feel that you can imagine and understand how your investments will be carried out, only then should you start. Looking at others without understanding all your steps is very risky.

That is true. Once some people hear about others making big profits from the crypto industry, all they know is that they are ready to invest and start calculating and imagining the kind of profits they will make. In fact, the painful part is that some of those people, who were not involved in cryptocurrency before, when they decide to start investing in Bitcoin, will ask questions like, How much can I make in one month?

Even when you explain to them that Bitcoin doesn’t work that way, they will bring up stories of someone who gambled with memecoins, got lucky, and made profits. They’ll say, "But someone made big profits from Bitcoin.Some people are desperate to make quick money from the crypto industry, yet they are still too lazy to do their own research.it’s not funny that some beginners think the crypto industry is the easiest way to make money from. That is one of the reasons they easily get scammed when they start investing because their main focus is on finding easy profits without considering the risks involved

Fair thread, as many people have before gone into Bitcoin thinking that they will get rich fast based on stories from others. The fact is that Bitcoin is a long game, and that is how it should be treated. If you go in, prepared to stay in for 4+ years if you want the best chance of success.

The reality of things is that people will like to do whatever they see others do, as far as they are having gains in them. It will then be left for the person to clarify them on how it is being done.

The mistake the majority of people make in Bitcoin investment is when they are being asked about it; they don't tell them what is required of them to be successful in Bitcoin investment. They will just tell them the sweet part of Bitcoin investments, is to have a return on investment within a short time. The newbies will then hold on to that, thinking it's as easy as that to make money through Bitcoin investment. By the time the market turned out to be bearish, they held onto the person who introduced them to Bitcoin investment, taking them as scams

One can get attracted to Bitcoin based on what they have heard but before investing their hard earned money into anything, not just Bitcoin, but it concerns every other kinds of investment, before one must invest into anything, they have to need to learn about what they are investing on, they need to learn the risk which is very important, if they fail to learn about it, that means they want to learn from whatever bad or good experience they will see.

I think in bitcoin investment if we just go for short-term then the investor must know about the trading skills like the professionals for gaining profit. Because bitcoin investment is safe it won't scam us like the shitcoins do but it don't exclude it's volatility. So it won't be able to make good profit if a person don't know about the TA, FA or the others thing in trading most probably these person will face loss.

And here I also think we should goes for bitcoin with little amount but it should be regular with the DCA and also for the long-term. I think in this way even a person just go for bitcoin I think he will definitely own good profit at least it is better from the traditional bank the jail of our assets.

You missed the most important thing. Learning about Bitcoin is not enough, and from my understanding every newbie in the market actually learns one or two things when they join the market but what they lack is an understanding of how things work in the whole Bitcoin space.

Newbies can learn about the whole concept of Bitcoin but if they don't understand how the market works they are still going to lose their hard-earned money. This is what actually happens when newbies have the impression that Bitcoin trading is just buying low and selling high. They never understand that the system is beyond that because they never understand the 4-year cycle, the use of historical data, and market analysis.

Sometimes, DCA also does not take that long to double your investment. I have been doing DCA for the last two years only, and most of my DCA was my signature payment. I consider this DCA because we get paid weekly, right? Yet, I was able to tripple my investment in just two years. My point was that it actually depends on when you started the investment.

Sometimes, your investment could take longer than four years if your most investment was during the bull run. Four years is just an estimated time, but you can expect to double your money in a year or so, depending on the market. 

Normally as someone that really have a good plans for him self is better you ask question before jumping in something that you don't know how it works. you can not just take because of how your friends tell you about Bitcoin investment and decide to invest without doing your own research. Because anything that have advantage also have disadvantage so for you to be on a saver side is to acquire the basic knowledge first before venturing into Bitcoin investment.

You’re absolutely right about the misconceptions surrounding Bitcoin and cryptocurrency investments. Many people hear about someone making a fortune and think they can jump into it and achieve the same results overnight. Before diving into investing in Bitcoin, doing thorough research is really essential. Understanding the technology behind it, as well as the market dynamics, with the potential risks involved also, it can help prevent disappointment later on. Many people start accumulating Bitcoin without realizing that it often requires a long-term perspective. Holding onto your investment through market fluctuations can be challenging, and not everyone is prepared for that.

Bitcoin investment isn’t a guaranteed path to wealth. It requires patience, discipline, and sometimes the willingness to endure market downturns without panicking. Bitcoin or any cryptocurrency can be volatile, so put it in mind that it's not a get rich quick scheme. Educating yourself and understanding the commitment required, can help you make more informed decisions. That way, you won't be misled by the attraction of quick profits and can approach Bitcoin investment with realistic expectations.

Yes, maybe these advice can be an afterthought for beginners where if we just hear, find and see, whether it's on social media or in other places is not a good solution to act for Conducting investment activities, where Bitcoin investment is not the same as most people invest in gold or property.

There are many things that can be learned in investing in bitcoin, because the price of bitcoin at one time can go away from what is expected, as well as other systems such as investment/wallet storage Sandi said and so on, because Bitcoin was not noisy like gold, so before investing in Bitcoin, first understand the risks that could occur in the future, so that investment did not lose.

Investment is not made only by our own way of assumption, but we have to know the right thing to do and the straight path to take in other to have what we target on, we should also try to relay on information with other sources, get to know about what is expected of us, make every decision base on our affordability and try not to act in rush before making research and verification on necessary steps to take.

It’s not only applicable to bitcoin investment; if people are making money through a particular means, that doesn’t mean you should jump into it. Make sure you do your research first before starting it, what works for other people might not really work for you.

Most people that do jump into bitcoin investment without doing proper research about it do end up losing money at the end because they are always getting things wrong, most of them do end up losing money, and after losing money, that’s when they will decide to do research and will get to understand what bitcoin is really all about, so when planning to make an investment, we should make sure we do our research first before putting our money into it, at least have basic knowledge before investing.

This topic make me to remember when I was introduced to BTC investment, I was working hard to make sure i save some money that will make me to invest in BTC to turn to a millionaire base on the way they explain the investment to me as a newbie.The moment I bought BTC from the market and hodl in my wallet,  the BTC in my wallet began to reduce that make me to panic why the BTC is reducing in my wallet, and they made me to understand how the hodl work in the industry which are some of the things I will experience from bear run.

Since I begin to carry out my personal research to know more about BTC investment, I don't have such thing in mind, that I want to make millions like other people because I don't know the amount of money they have use to invested in BTC.

There is no fast money in this field and in investing in Bitcoin specifically, it depends on the extent of accumulation, patience, and HODL, and buying the dips during bearish markets. That is what will determine the amount of profit that a person can earn in the long term.

On the occasion of what you OP mentioned, I saw a [tweet (https://x.com/cz_binance/status/1894435820888559982)] today by CZ saying that: "Waiting for the new headline: #Bitcoin "CRASHES" from $1,001,000 to $985,000. Save the tweet."

Anyone who sees this tweet can rush to invest in the hope that Bitcoin will rise to this price, but the right approach is for the person to conduct his research and learn about the nature of Bitcoin and the risks and study the market carefully. No one can predict Bitcoin’s next price, as these are all optimistic expectations, and those who invest must invest with caution and with money that does not affect their livelihood if its value decreases over time.

I think most of these people which you superbitman talks about are those guys who watch some few YouTube videos that advertised how much people have made through bitcoin showing how much luxury people have acquired through bitcoin but in those videos they do not tell people what it takes to be there hence when they get here or anywhere close to the real information they get disappointed but those who are courageous enough continues.

I also agree that we should try to inculcate full information to people who we talk bitcoin to but at some point even after telling what it takes some just blur out the truth you told them but go for only the riches they can get hence they loss themselves into it.

There are people who have lived out their lives just following the crowd and majority, and that’s why they easily get into trouble, because when you fail to conduct your own personal research, you’ll never be aware of the risks involved in that particular venture, you’ll only be working base of blind facts that you’ve been given. One thing about investment is that, in order to get a more effective result, you need to study it and then be able to understand it to the point that you discover and adopt your own strategy that suits very well with your personal financial goals, and not just adopting someone else’s strategy without even knowing their risk tolerance, the size of their capital, size of their backup funds and every other things that should be considered before choosing a strategy. And then in the end, you end up experiencing losses, leaving you with the mindset that it’s an unprofitable investment, while you’re initially the one who failed to do you due diligence.

Ignorance is never an excuse for stupidity; anyone who just jumps into investing in bitcoin because they heard about the success story of others who have been holding for long might end up just jumping out of it without making a single profit when they have finally realised that it's not just as easy as they thought.

It's misleading and sometimes even dangerous to draw conclusions from what you had from just one person without doing your own proper research and getting your answers yourself before jumping to conclusions.

When it come to bitcoin long term investment it doesn't require getting depth knowledge or going into deep research before starting up your bitcoin investment, it is simply to start bitcoin investment if you already have some basic knowledge concerning Bitcoin investment and you have your discretionary income which is your leftover income ready you can Start up immediately, for you can aswell figure out more things regarding bitcoin investment while you have already started accumulating Bitcoin because there is no you want to know more things concerning bitcoin investment without you not been in the market, waiting to get all knowledge first might lead to procastination or money meant for investment can be used for other things while waiting to find out more about Bitcoin before you start accumulating Bitcoin, the most important thing is to get started and figure other things along the process, with the DCA strategy you can start accumulating Bitcoin gradually either weekly or monthly as the case may be regardless of the price of Bitcoin and hodl .

You are correct, their is an importance in using your own time to make your own research about what you have been introduced to by someone, and the conclusion you get from that personal research which you make will determine if you are to continue and invest or not since you will study and check more of the negative part which someone trying to make you do something won’t tell you about.

that's true most people don't think of the sacrifice to make when investing in bitcoin that's why you need to make your own research to also know the advantages and disadvantages of investing in bitcoin.