Bitcoin Forum

Hello Bitcointalkers

I really want to t9 discuss about what goal setting is best for a beginner..
I think it is a general thing that when someone comes into this space for the first time, they are conditioned to think in fiat.. fir example, They may want to turn their $1k to $10k...

I think it is a problem and I really prefer them condition their mind and sees Bitcoin only for it fiat value... And it also encourage selling because once that perslceived value begins to drop, just like we are experiencing now, panic follows suite..

I do think the most appropriate approach should be setting goals based on Bitcoin/Sats accumulation.. instead of making your goal be from turning your $1k to $10k ... It should be you trying to accumulate 0.1btc, 0.5btc......

You may have a different opinion on this but this is just what I think will be beneficial in the long run.....

A Bitcoin buyer that understands Bitcoin will not think of accumulating Bitcoin with a price target because Bitcoin isn't stable asset, the price you bought last week might not be what you will buy next week, this Volatility is not going to make that possible.

It can only make sense if you have $1k or $10k per week to buy Bitcoin as your buying target. This helps you keep to budget, even if you have 0.5 Btc as a target to buy Bitcoin, you can't take everything from your bank to buy your target, you have to stick to the budget weekly, monthly or whichever plans you have for accumulation.

I disagree with you, this happens when the beginner is being filled with typical lies that they'd become rich overnight. This conviction is usually embedded by scammers who tend to lure inexperience investors and only those who're of greeds falls into the traps.
And in other way, yes you can actually turn a $1,000 into $10,000 and more without getting lost but that goal can only be guaranteed when you invest it and hold in the long term. If you mean to achieve this on timing the market in the very short time then you must be sure of taking an agressive risk because predicting the market volatility is an exercise that can't be guaranteed.
Trading is also not recommended for newbies so don't even think about it at your beginners stage except you've built your mind towards it and had also acquired the necessary knowledges.

OP, dollar value also matters. Let me break it down for you, assuming you got your 0.1BTC for $5000 and I got mine for $3000, I am still able to safe $2000, this is just an  example, but know that when you buy your BTC ( timing ) matters.

---

Just because your goal is 0.5BTC, this doesn't mean you should blindly buy that amount when the price is very high, entry price is why traders make profits and volatility exist for this same reason too.

---

Avoid buying when things are costly, there will always be rebounds in price actions, wait for corrections and start buying, you are doing yourself a favour to get to your goal faster by getting more satoshis.

Well, most of us (I don't want to be a hypocrite in this kind of thing) are probably also conditioned to that especially if we've come at a later date or cycle. I may have misunderstood what you're trying to say here but I think that's not bad at all considering most people in crypto are use to that in fiat value. If we've come here with fiat for spot buy, mind me you'll carry that for quiet awhile but as time passes and you'll learn more about bitcoin, you'll definitely transition with what you think the goal should be. It takes time to digest these kind of things, beginners will definitely have a great time for some adjustments.

I have the same view as yours bros @casey15, to reduce panic when price drops occur, enthusiasts should have an anti-mainstream benchmark, instead of comparing it with FIAT, it would be better to compare it with the sats target. Unfortunately, not everyone in our crypto market is a believer in Bitcoin technology, a small or large portion are simply profiting from this revolutionary phenomenon.

Whatever that works for you, and when you said value means you are considering bitcoin for investment, right? So what difference does it make to see the fiat value or aiming to have 0.5BTC because at the end of the day you are going to sell it when your target price reached.

A beginner should make security of their bitcoin as priority, because they often ignore the importance of having a wallet or if they have one fail to realize the potential risks if they simply chose to use a hot wallet for thousands of dollar worth of bitcoin. All it takes just one wrong move to wipe your life savings when you put yourself into that situation.

Personally, I consider a target value and a target amount of Bitcoin to be important for goal setting. Because the two are interconnected,so achieving both is highly desirable. However, everyone has their own opinion and the right to determine how to accumulate Bitcoin, but we must also realize that saving in Bitcoin for the long term is far better than saving in fiat. Most fiat assets experience a decline in value over time, and I have truly felt this by comparing my past and current fiat holdings.

If your goal is to accumulate bitcoins so that you can benefit from the increase in their value, then the amount of BTC you have is arbitrary. It is the value that is important. Which do you prefer, accumulate 1 BTC @ $10k or 0.1 BTC at $100k? They both have the same value so the amount is irrelevant.

I don't think goals, whether in fiat or BTC, are the right way to look at it either. The most effective way to invest in Bitcoin is DCA. Invest a fixed amount in fiat at regular intervals until you decide it is time to spend them. That process remains valid until the fiat is no longer a reliable indicator of value. I guess with inflation, investing an increasing amount of fiat at fixed intervals is probably better.

Yes, but the long-term upward trend will compel many to hold onto Bitcoin even if its price drops, because within 2 to 4 years the price will return to previous levels. Therefore, as long as the long-term price trend is upward, considering Bitcoin as an investment is not a bad idea.

People who are thinking in Fiat value is missing the main point of Bitcoin accumulation, stacking sats based on a target quantity which we mostly refer to as accumulation target is way better and more rewarding than stacking with respect to fiat value , this is why DCA encourages identifying your accumulation target first and the specific buying amount from your discretionary income of which you'll use to expand your portfolio on a periodic basics. The bigger the quantity of Bitcoin you're able to accumulate, the better the profits you tend to enjoy on the long-run.

Another mistake such people make is thinking that Bitcoin would pay them a specific ROI in Fiat, but Bitcoin doesn't pay ROI, you only get to enjoy a higher value of your portfolio, more reason it should be treated from an investment POV