Bitcoin Forum

The rate at which new people are joining the forum and the entire community is very high, which makes me wonder how mentally prepared these new and previous users are for Bitcoin investment. If you are not mentally prepared for Bitcoin investment, it can lead to mental retardation.
First and foremost, before investing in Bitcoin, beginners should learn more about privacy; beginners should start by learning how to secure their files and personal details on the Internet because not knowing or learning about privacy can be a very big risk for them because in Bitcoin investment, you can lose everything with just one single mistake.

After learning enough about online privacy Here (https://bitcointalk.org/index.php?topic=3210982.0), we move on to Bitcoin investment and study how to protect our private keys and seed phrase Here (https://bitcointalk.org/index.php?topic=5230920.0).

How prepared are you mentally as a newbie when the market is on uptrend or down trending?

How mentally prepared are you to be able to survive the market situation by holding onto your coins and not selling them at a loss? Being patient is key since, no matter the market situation, 1 BTC is still 1 BTC.

Before investing in Bitcoin, serious considerations must be made, rather than simply following the trend that Bitcoin investment is a get-rich-quick scheme; this is not the case. Before you begin investing in Bitcoin, you must first learn about the market by observing, analyzing, and examining it.
Be patient enough to study the market so you can know when to buy, hold, and sell based on your investment strategy.

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Also, please do not borrow money to invest in Bitcoin, and only invest what you can afford to lose.

To start, they must learn about Bitcoin and achieve knowledge about Bitcoin. Basically, when they understand basics of Bitcoin via Bitcoin Whitepaper, Bitcoin Wiki and other resources, they will begin to have belief in Bitcoin.

That is a start of their mental preparation and as said, it should be triggered by knowledge. Without basic knowledge about Bitcoin, no one can strongly belief in Bitcoin, can not mentally prepared for their investment in Bitcoin.

Only fools who will buy cause some rich guys recommended it. Some are jumping without making any reseaerches on such project on crypto and when their investment fluke then will blame and says its a scam. They should go first and read some very important terms such as risky, investment, gains and losses. To udnerstand that investment isnt an easy money and learning to accept losses and avoid selling at a loss is a very innate skill one should adopt.

I think the best teacher would always be experienced. Imagine being able to share lots of ups and downs in the market until you are entirely immune to it, and you won't be as emotional as you were before. There are a lot of us like this ^{admit it  ;)}, and it's just that we learn to adapt and not be too frightened of what the market could do. You can get anything with it if you know what you are doing.

There are ways to get it because understanding that you know what you are doing can either give you the best thing you have done or not. Borrowing is not always the solution, but it can be taken advantaged of. 

I don't think we should force everyone to be patient. Sometimes people's circumstances play against them. If they are willing to sell at a loss, that is their right. I would not call such people fools, or, as the OP writes, mentally retarded. Everyone has personal freedom. If they want to change to fiat, let them do it. I always support the policy of living life to the fullest in the here and now. You need to be able to hold Bitcoin to a good price, but you should not infringe on your desires today. A situation may arise when all big money will no longer be as joyful one day as what is needed now.

You just spoke my mind! Many people do try to compel others to their own idea which is not supposed to be so. Where's the privacy and freedom we all preach then? Of course you can advise and recommend holding to a favorable market but not definitely stop them or call them fool when they intend to sell at whatever price. Fiat might be more useful than holding at such situation.

I seriously doubt that. The forum activity is dropping and we aren't getting many new interesting faces who are interested in staying long term. Many who come are previously banned bounty hunters or spammers that return to resume such activities. So you aren't going to get quality information from them and they are not interested in investing in BTC. 

In terms of numbers, sure, 1 equals 1. 1 BTC = 1 BTC, but 1 USD is also 1 USD. It's the purchasing power of the units that changes. The purchasing power of the USD is historically decreasing, while that of bitcoin is increasing. Still, you can't make the claim that the 1 BTC from 2012 is equal to the one of today, or that the one we have today equals the one that was worth $69.000 per unit a few months ago.

Most times people fail to understand why they need to learn the basic of bitcoin investment before embarking on it. They have little or no knowledge about bitcoin and end up falling victim of great loss and regretful of their actions at the end. Being mentally prepared to invest in cryptocurrency is one of the basic knowledge all newbies should learn, without that it leads to mental collapse as such newbies even use the money they can’t afford to lose, which can eventually leads to committing suicide by such persons. Being prepared mentally should not be underrated by any investor ready to start bitcoin investment.

I don't think you are using that term properly.


How can you study the market? No one has any idea where the price is going. If someone could consistently predict it, they would be a billionaire. But so far the only people who got filthy rich from crypto are OG hodlers. Who probably were already doing well financially, if they resisted the temptation to cash out.

It's just like saying "do your own research". Without telling newbies how to do their research in-depth, it's a meaningless phrase.

There's no relation between privacy, security and mentally since they're completely different!

How it's possible you can lose everything when your privacy are leaked? the only way is $5 wrench attack, nothing more. It's different like if you get phished and you give them your private key, this is about security, not privacy.

Although I supporting for people that have privacy concern, but you're don't really need to become high privacy person if you want to invest Bitcoin.

Experience, practice makes perfect but it should be supported by learning and achieved knowledge.

Without experience, without real practice, no one can manage all knowledge learned in theory. Because the control of emotion, mentality, psychology is only achieved by experience and practice. It can not be achieved solely by learning any course.

Most of predictions are wrong and the market usually moves in contrast of what the crowd think it will. So the most important note for any investor and trader is, always have plans and mechanisms to protect your capital even if the market won't move as you expect.

OP, you need to prepare very seriously for any investment, not just bitcoin or crypto.
This means that you should analyze and understand the market very well, prepare an investment plan according to your capabilities and also have a very clear exit strategy.
It is very important to learn to control your emotions and to make decisions about your investment based on rational reflection and analysis and not based on fear or panic of possible loss of money.
Realistically, investing really isn't for everyone.

Numbers can often be misleading because if today the forum has 500 new registrations, are they all unique members or were the majority of such accounts created only with the aim of an abuse bounty campaigns? Are they mentally prepared for what they do? Most of them aren't, but that's not a problem because sooner or later they'll realize that they're wasting time anyway, and wasting time is much easier to bear than losing money, right?

In a nutshell, nobody should do anything without first learning something about it - a man who has never driven a car cannot sit in it and start driving around, just as a soldier cannot be a good soldier if he has not been trained.

If I'm a newbie, I won't just invest in something new that I don't know much about, especially if I spend a lot of money. I will study it first, consider many things, and finally, decide. And if, in considering it, I don't find one or more things to be profitable, I won't try.

But luckily, I gained a lot of experience from this forum and learned more so I could decide to join and invest in bitcoin. And yes, I agree not to borrow money from a bank or other place to invest in bitcoin, especially if you don't have a steady income. That will make it difficult for us to pay the refund later.

It's hard to determine how well prepared they are mentally when they're still new to it. It's better for them to experience the ups and downs of the market for them to really feel how they must react.

Like those newbies last year that have experienced and seen the greener pasture of the market and then a sudden fall have seen for this year. Honestly, they're even at a better state for seeing the lowest for bitcoin because it's still high.

Although if some of them bought at ATH which is the same situation before for those who have bought at ATH on 2017. They still need to wait until the next bull run comes.

but about this borrowing and borrowing depends on each individual. For those who are able to repay the loan and the interest it may be a last resort. The loan will be the main capital for investment or trading and monthly returns from the trading results. but this only applies to those who are truly professionals in the field of trading, if beginners do it it will only add to the burden and in the end there will be more losses and debts borne. Borrowing money is not a solution, but only as an alternative with some considerations. Investing what you can afford to lose is the tagline that continues to sound, because investing in basic necessities is very dangerous and will be a bad start.

Just like any other investment, a person joining in this cryptocurrency journey has the duty to do their research about it.

Most people have this misconception towards cryptocurrencies where they see this as an "easy investment" that would make them millionaires in a relatively amount of time. I mean, if that were the case, then I think most people would probably be rich by now.

Investing is an art where it requires all the skill and understanding the technicalities behind it. It just so happened that the medium of investment here is an instrument where its value is highly volatile- that is why people should do their respective research before investing.

The Bitcoin market may seem easy to understand and predict, but it is actually one of the most volatile markets to date. As a newbie, you should always be prepared for the ups and downs when entering the market. It is important to have the right type of mentality, as Bitcoin investment is not a "get-rich-quick" scheme. There are times when the market is on an uptrend or down trending, and you must know how to handle those days. If you cannot handle the risk and uncertainty, then stay away from it. The best traders are those who can remain calm even during times that look bleak. They know how to manage their emotions and keep their focus on what they are doing.

There's no way to predict the bitcoin market. You can only make some broad assumptions for the long term, but there's no damn way you can analyze in depth what's going on, unless you have the evidence to support it (e.g., CEXes with all that big data). The news don't tell much neither. There's no production level in cryptocurrencies (as in oil, gold etc.) to speculate conservatively. It's just demand, period.

If you're not prepared to say goodbye to your funds for a few years, you should definitely not buy bitcoin.

Simple but very straightforward this are some basis that newbies need to know, although I would expect them not to take this as a scare but a preparation tips that would help them avoid or minimize financial losses in crypto-currency.
Also set your mentality on the Fact that Bitcoin and crypto-currency has other functionalities that doesn't have to do with investments, how they can increase the adoption of Crypto-currency in simple ways by accepting crypto-currency as a means of payments if they have businesses, how to handle news, rumors, FOMO and FUDs.

Not every newbie joining the community is doing so for the purpose of always wanting to invest in bitcoins immediately. Some people have already gotten some development mentally and are already into bitcoins, but joined forum to just be a member of a community to enjoy its benefits.

The level of preparedness depends on the level of knowledge one is able to get about the market, and there is a possibility that a newbie here can be more prepared than someone who has been here a while longer than they have.

I personally would like to borrow some money (in fiat) so I can invest it to Bitcoin. I would only like to do that if the interest is not high and is open for longer terms of payment. I remember getting news about some loans offered on our country that only has interest of 5% in 3 years. I liked to apply into it but in the end I haven't able to give time for it. I really feel like it's a waste.


For newbies, do not jump out to any investment just because of hype or other factors that is not helpful in determining a good investment. Always study about it first and think of the risk that you might be taking.

Unarguably, this is the scariest and saddest part of every online business. It's not just a Bitcoin thing alone. It's a worrisome thing, to say the least.

Despite how simple that "1btc is still 1btc"expression" is (I've seen its explanation elsewhere though), we should know that the price values and realities are likely not going to be the same. That's in case one is looking at taking profit. Yes notably, we can't overlook the virtue called "patience" when discussing cryptocurrency. Patience is a necessity for success, both here and in other spheres of life. BTW, I ain't likely to be making sense to those who believe in cutting corners by expressing this opinion.

Agree much with this.
How strong our mental to this crypto industry, this is very crucial and becomes one of the basic elements to have when we will take business on the crypto industry. Whoever we are, as traders, investors, project developers, and other parties in the crypto world, we must be ready, especially mentally. Although this is not easy, may need more time to learn and accept the condition of the crypto world, in which sometimes is really satisfying and sometimes it seems horrible. We may need nothing but strong mental. Because of what happens right now, the bearish market, so many projects are dead, bankrupt, shit, and also scams. We lost our money because of thet. Additionally, we must be also ready mentally although in Bitcoin investment, because BTC price is also still experiencing a hard time during this bearihs era.
The most important thing also is that never hope to earn much money instantly with very high epxectation to be rich soon using crypto investment. Be realistic as what we have learned and understood. Think also of the risks.

I do not know what you meant with this, to be honest. Are you implying that bad investment choices can lead to someone become a mentally handicapped person?
Does it crypto market actually have to power to turn a completely healthy person into a person that will likely need the support of other to barely function in a society?
Should we warn mental institutions in our countries to be ready to shelter the wave of people that will need to get institutionalized after sudden market movements?

if from a mental point of view at first I was not very ready because when I first bought bitcoin and then the market went down, at that time I was very depressed, because at that time I had not fully learned about investing, especially in bitcoin (crypto) over time I learned from my mistakes backwards and I learned from people who are more experienced about investing and the result is that little by little my knowledge has increased, my knowledge has increased and now I am more prepared physically and mentally.

Haven't read wp, wiki - might have read other stuff tho by chance and I believe in BTC. I mean you don't have to force yourself into reading if you don't want to.

The majority of people that have joined this forum or started investing in bitcoin are only after getting rich quick without getting much exposure to it. At least to understand the basics of bitcoin. Many are not just ready to build in the process to learn, to be patient and acquire knowledge about bitcoin. That's why they end up investing wrongly. If you manage to introduce someone new to crypto, he or she will be questioning you about bitcoin investment on when he or she is expecting profit returns. Forgetting that the market is unpredictable.

Being mentally prepared not only for crypto but in all investments that we decide to invest, it may take a lot of time learning and gaining knowledge and skills. And when you see yourself getting ready for it, then the risk to lose from investing will be lessen because you now have developed the necessary knowledge and skills to create  more chances for successful investments.

Let's simplify. New users are certainly not quite ready to survive price fluctuations so they are strongly advised to learn several things including fund management, emotional management, psychological/mental management, and risk management. I'm not at all sure they'll be able to manage everything in a short amount of time, so their best advice is don't invest right away without learning.

While previous users ^{[I like to call them experienced investors]} are certainly quite good at understanding how the market works, even though they may not be able to manage everything well. The risk of loss and security is always there so no one can guarantee profit and security other than good management by own.

Everyone believes that 1 bitcoin is still 1 bitcoin regardless of price fluctuations. But when it comes to investment, then of course you need to look at fluctuating values. Becoming a holder when the market is experiencing a correction is a choice, it must be in line with your initial investment strategy and goals. You shouldn't stick to something you can't accept, for example some people will stop losses at -10% or maybe lower and will enter again when the price is believed to be worth buying again. Of course patience will pay off, but they should avoid selling at a loss.

What bring all this is act of getting fast money to be living big. They think the rich friend make it through their, not knowing that his parent had laid down a solid foundation for him. We shouldn't be faster than our shadow, everythingis time and your effort.

I agree that newbies should have basic knowledge about investing in bitcoin or cryptocurrency in general before jumping in. After that, they need to find a mentor or interact in a group discussion or forum to help them get used to both the written and unwritten rules regarding the crypto world. It's not so they can be dependant with other's opinion, but to shape their own skills in analyzing, take decision etc.  I think most of us learn about the depth of the crypto world by experiencing it ourselves or learning from others' mistakes so it's important to mingle with crypto communities too. All of these knowledge and experiences cognitively and emotionally will shape our mentality. For me, it's not about mentally prepared or not but more like maturity along the journey

Tried to be more independent and make a decision solely in order for us to grow and be well-prepared. Because at the moment that we rely on others, the more we think relying on others will work great but the truth is that trusting ourselves makes us even better and it will also help us to improve especially in decision-making.

I was sure that not all who start crypto investment are totally knowledgeable as they just learn many things as they expose to the market and experience.
Mentally prepared? I already that I may lose and earn some money in this area.

I agree that not borrowing money will make us less burdened. However, some people are in debt and use cryptocurrency as an investment. I did that, but it's interest-free debt. I am grateful that I have nothing to lose and can return. I wanted to take that risk because I was already confident in my abilities. So we have to understand how much we can afford. That is the best capital. For now, I'm using money properly for free. Regarding mentality, all can be trained. Because I believe that people who dare to take risks will find the benefits. I am sure that the strong mentality will continue to try to find a way and will eventually succeed.

Those who jump on the opium of bitcoin at all-time high will be having one of the difficult phases of bitcoin right now if it is their first time but of course as they used to say, tough times don't last(bear market), only tough people do(during a bull market). It is not a wrong thing to buy bitcoin at all times but sells it at a lower price is bad. If anyone right now is at loss, this is the perfect time to add more and with this measure, they don't need to wait forever before they sell their bitcoin because it can be exhausting with the price manipulation and the current politics the government has been doing with the market.


Who owns a bitcoin without his or her private key, it is like having a money loan to someone that may default them anytime they wish. the privacy should not be left out, I do hear some people use the terms "I don't do anything bad on the internet, if they need anything, I will give them", No! don't give out your privacy unchecked, they are big concepts of life that should be hidden from the internet.


Another big mistake is taking a loan if you don't have collateral or the means to pay it back when the time comes. I know people who take loans with over collateralized assets, but if you must do it, please be careful so you don't receive margin calls.

Considering the market these days. I would not even consider borrowing or loaning for investing. It is way too risky to just do it. Your bare minimum to earn would be the breakeven cause surely you still need to pay the loan you went through. Regardless of the percentage, I would not do it nonetheless and yes it is a waste and a huge risk and it might hurt your credit score.

There are even scary stories in Trading Discussion wherein OP's friend just took his own life due to losses in trading while being buried in debt.

We shouldn't compel patience from everyone, in my opinion. Situations can work against humans at times. They have the right to sell at a loss if they so choose. Such folks are not mentally stupid, as the OP claims, and I would not label them as fools. Each person is free to be themselves. Let them switch to fiat if they so choose. I constantly advocate for maximizing your enjoyment of the present moment. While it's important to be able to hold Bitcoin at a fair price, you shouldn't stifle your current desires. There could be a day when having a lot of money isn't as satisfying as it is right now.

Some people who sell on losses, it doesn't mean that they are not mentally prepared. Most times it is because they make wrong plannings towards investment. For instance, as the market is low and red, someone will want to invest, hoping that before the year runs off, there would be profits and he will withdraw both capital and profits for project or something related.
But if by the end of the Year, the profit didn't come, The investor will have no option than to withdraw or sell in lose in order to have money to accomplish the projected project or for even welfare in some cases. So it is all about planning and how much the person has, and not mental factor.

If you are someone who are just new into this market which these kind of mistakes were really that very common but eventually those things will change on the time that you had already been dealing with this market for

a while already which it is normal that your mental awareness will really be strenghthen up because of the experience and knowledge that you had gained overtime.Although it wont really be coming in to a point of all

knowing but at least you are prepared on various conditions or situations which you might encounter head on.Nothing beats out if you are prepared both mentally and emotionally
because these are primary things which do really affect trading decisions if these things been stirred up.

This is like a never ending experience for many. Usually, this comes during the bull run and those that have been enticed by the market and they think that it's there to stay at the top.
Much better to not do it and avoid doing so because you'll never like the consequence that it'll give to you. Just use your own money so that you're mentally prepared that you know what you're up to unlike borrowing with an unknown market behavior plus the obligation that you'll get to pay sum with the interest.

Investments have its own risks, so even if you are mentally prepared before investing, that would not guarantee that you will be free from losses. Losses will always be inevitable regardless if you are a newbie or pro in any type of investment. However, those who make extra efforts like financial planning and having the skills on creating good market analysis on the market will most likely result into successful investments. And these things will only be possible if you have long patience in your investments.

Not just by taking a loan, some i know quit their job to focus on crypto trading way back in 2017 because we are in a massive bull run that time and they think that it will go parabolic or at least they will still make the some money in a bear market, but it's not.

So yeah, takes a lot of mental preparation as the market is about timing, up and down. In bull market, everyone is very happy, but when we enter bearish cycle, it become a problem for everyone.

newbies who had not experienced the bear market will always be devastated by how much the price will dip. but i'm quite sure they didn't really go full into BTC as they have all know Bitcoin is being demonized here and there by media. the ones who go all in are the ones very stupid who had not done their research.

but its true though that it could lead to mental retardation. bear market is stressful. some who dive into leverage and lose all would even commit suicide.

It will take a least one single cycle for a trader or investor to know how the market moves. Yes, you may have the technical analysis experience in your shoulder, but definitely crypto market is very different, for one it's so volatile and unpredictable.

But once you get that experience, maybe in the next cycle, you now have that experience, you wouldn't simply panic when the price is crashing. You will learn how to read between the line.

In my case, I was already quite prepared before learning about Bitcoin, as I had already been investing for a few years, and before that playing poker. If someone does not know, a chart of a winning poker player is quite similar to a chart of the stock market or the price of bitcoin, depending on the variety. The bitcoin one would be more like someone who is a winner in Sit and Go or Tournaments, while the S&P 500 one might look more like a winning cash player.

In any case, the important thing about the similarities is that they teach you that making money is not variance-free: to win you have to go through volatility and it's not a straight line upwards. There are ups and downs.

Indeed especially if you have high expectation. Worse is if the money you invest is not the one that you can afford to lose, this is often the problem of investors who dont have patience to wait longer since they already need the money.

It's really important to prepare ourselves when we decided to invest (in general not only in Bitcoin) because there's no guaranteed to gain and there's no specific timeframe when we can take profit. When I was just starting I also made mistakes but I take it positively to do better so I apply what I learned and I keep in mind the possible scenarios that might happen. As an experienced investor, I learned not to panic in times the market is in bearish because that's how it works if you invest in crypto. As long as im not selling then I wont lose anything.

I will say you need to have faith in bitcoin and hold for long term which is not at all easy situation going through all the panic sell and dumps over these years but that's the key to get profits.

Why people panic sell? The most common reason is they don't believe in bitcoin, invested under the influence of others without doing the research of their own and more commonly they invest the amount they are not willing to loose so they have mindset set-up in that manner.But before investing we must know the results of our investment and be strong to hold for all these years as well.

Yeah, there have been folks that did that. Because of the bull run, they've gained confidence that it will like a green pasture at all times and then many have decided to quit their jobs. Too bad that they have to do that but it's better to have a lot of source of income before they decided to quit their jobs. Now, for sure those that have made a bad decision starts to realize that they should have done better instead and can't rely on the volatile market at all times.

OP..... first things first...

How mentally prepared are people not to see Bitcoin as an investment product, but rather as a currency? Our first priority as a Bitcoin community must be to educate people to understand that Satoshi Nakamoto created Bitcoin to be an alternative currency.

People can buy bitcoins, but they must use a small percentage of those coins as a currency or the whole experiment will fail. Transactions generate "miners fees" and the miners fees pay for the miners to run the whole system... without those miners fees, Bitcoin will fail. (remember... Block rewards will fall away... and miners fees must pay the miners in the future)  ;)

You are right about this things but normally when people invest in bitcoins their purpose is to make money. Most people invest in bitcoins only to make quick money or to get quick rich without doing much efforts. They don't know that bitcoin prices dumps are more severe as compared to the other financial markets like stocks etc.
You are very true that we need to understand that bitcoin is a currency primarily and the first focus will be to use it in replacement of the fiat currency.

We don't know how mentally prepared they are to join bitcoin. Maybe some are mentally prepared and some are not ready to see price fluctuations that keep changing so they are shocked and unprepared. In investing in bitcoin or altcoins, they must be careful and not in a hurry to purchase so as not to be mistaken in placing an order.

And the bolded letter  is a suggestion we must avoid so as not to get into trouble later. And never be tempted by offers like joining a program that offers to generate huge profits in a short time.

Bitcoin investors nowadays are all this type. A trader wanna be and react every movement of Bitcoin price while they didn’t focus for the long term benefits of buying Bitcoin on below ATH price. I’ve been buying the dip every time Bitcoin price go lower than 20K and continue to do that weekly using my salary here on forum without thinking for short term profit because I know that the price will surely pump again at any point below that 20k level.

Newbie investors will never gonna learn and earn huge profit until they was left behind and learn from there mistake for not investing when they have time to buy at lower price.

The majority of people already know about bitcoin through news or from someone they know of.
It's good to prepare for bitcoin's pumps and dumps but newly arrived peeps into the community don't know much about bitcoin and when the market goes up they're in FOMO.
It's really hard for everyone to know about bitcoin when they start.


I agree with the last point you stated don't invest more than you can't afford to lose.
This forum is the best resource for someone to learn about bitcoin, from the majority - to almost everything that is covered about bitcoin here on the forum so they can avoid major mistakes that they would've made.

A true newbie, i.e one that hasn't invested in Bitcoin or stocks before is going to have a fun time. Espeically, if they've over invested. Although, that's usually not the case. As a newbie you're usually a little bit scared to dip your feet in, even though you're sure that Bitcoin can help your current situation. It took me a long while before I built up that mental fortitude to be able to keep invested, especially when we've taken big dives.

The price barely effects me these days. I'm not concerned in the slightest, and I've accepted whatever will be, will be. Ultimately, if you don't invest in Bitcoin you have to rely on a third party to manage your money or be severely limited to only local transactions with cash. Plus, you're very likely going to be in the rat race until the day you die, with Bitcoin, and the way it can move up, and down quite significantly you have a chance of potentially earning some money you otherwise wouldn't with being invested solely in fiat.

So, taking all that into consideration, newbies should develop their mental game over a few years, usually. Although, investing small amounts is definitely the best way to show what you've been missing out on, but also not become to effected with the swings.

I simply try to be optimistic at all times. Whether prices go
up the better and when they dip its considerably good. Some
stuff you can’t control but you can control how you react to
them, makes you think more and decide better decisions and
strategies. Buy low sell high as they say, but depends entirely
on my short term and longterm goals in crypto. Im still
learning, I think we all are in this market. The unpredictability
still adds that kick we all like and dislike by others, in a sense
its exciting at times.

For me I know that there are very exciting times ahead. However, for a newbie, it would seem hard to believe because of so many changes going on in the world - There is a lot of uncertainty, and many people are not sure how the economy will react. Here's the thing, every bitcoin investor is just smiling at the price of Bitcoin right now because they know what's going to happen. More people are still gonna become millionaires through Bitcoin, now is the time to Invest and be super patient.

Also if people are mentally prepared for the loss in portfolio, they will not panic and sell when the bitcoin price dumps.

If people have knowledge about bitcoin and know about the price history of bitcoins, they will not panic if they see bitcoin prices at the lowest levels. Usually, people buy in a bull market and sell in a bear market. With knowledge, they can change their approach and do vice versa.

True. Your first paragraph was exactly my experience when I started back in early 2017. It is really not "little bit", but it is reaaaaallly scary to dip and get your feet wet in the market. I experienced panic selling mid-2017 before I realized that there are such thing as bearish and bullish season, but good thing I did not just stop there. It is truly scary because you need to mentally prepare yourself to lose your money and considering that I even live in a third world country where $20 is a lot to lose already and not just those that you can earn back easily.

Today, I am almost the same as you although for me I do not really care anymore what is the price. I would just do a quick Google search of the price and regardless of what Google Finance shows me, I do not even do anything anyway although if I have spare, I would buy more Bitcoin if it is in the red side for now.

That's the thing about newbies, they are both more brave when they shouldn't and end up getting lucky, or they should be happy to join in and they do not because they do not know what they are doing.

It's not an easy decision because it does get to a point where you can't make a decision just yet, it's going to be something like bitcoin going up and you should join and veterans would be careful about a bull trap, whereas people who are newbies would join anyway, and if the price actually does go up, newbie would be right, but in the long run veteran would make more profit after a few years. That's why it's not always a guaranteed way of trading, and mentally it's important to be ready for the long term.

From this we know that knowledge is the basis of success. Mentality alone is not enough if they do not have extensive knowledge of bitcoin. And knowledge alone is not enough when they do not have a strong mentality.
I put knowledge before mental. Because if we have knowledge, it will create a good mentality in investing. All of these are interrelated and must be owned by an investor, because if you don't have one it will be difficult in the future. Do not hesitate when you want to invest here, because here is not the place to try.

When I was a newbie especially at trading, then I really wasn't ready when the market turned down. My main reason is because the funds I use are funds that I still need for other needs, so that every time the feeling of panic decreases, it's always there.

But over time, my mindset changed and my trading strategy changed so I can say I'm ready for any consequences. This is not really available to users who are just learning to trade and invest, but the experience of a failure has taught us to have a good knowledge of self-control. Not by borrowing money for trading, it can increase the risk of failure in the end.

As time goes by, the newbies would have to bear with what they're dealing with and it's going to be an enjoying journey for them. They're already in and they have to keep going, that's what their mindsets will be. No backing out anymore because they're already in.
Some newbies may quit along with their journeys but for the new ones that have seen the greatness of the market and the bumpy ride, this would be easy for them as soon as they've understood how the market goes and how they can profit from it.

I am a newbie, I just join the forum not quite long, a friend of mine introduced it to me for me to know more about bitcoin which I already had an idea of it. I am fully prepared, mentally, physically for the bitcoin investment.

Cryptocurrency success stories have become extremely popular in the past year or two, especially during the bull market where even random altcoins were pumped, resulting in people believing that they were a get-rich-quick scheme. A decent example is Dogecoin. Thanks to Elon Musk, it was excessively pumped, surpassing $0.50, which was outstanding for a meme coin. Personally, I know a few friends and acquaintances of mine who thought it was the deal of their lifetime to purchase Doge during its rally, and guess what, they were screwed over, losing almost all their capital.

As someone who has gone through multiple waves of bear markets, I now feel more prepared than ever. I suppose if I was more knowledgeable and more prepared, I wouldn't have abandoned Bitcoin twice, once in 2014 and once in 2018, and chances are that now I would be swimming in money. Unfortunately, in 2014, I had no idea how Bitcoin worked and was disappointed that I couldn't easily obtain it, whereas in 2018, I was heartbroken after its crash and left the scene until 2021. 

Yeah, well I think I might've been the opposite. I was much less brave as you put it, when I was at the start of my Bitcoin journey. Whereas, I'm a lot more nonchalant about the short term price of Bitcoin. It really does depend on your goals though. If you don't need the money you've invested into Bitcoin in the short to medium term, it's much easier to be calm about it all. Especially, if you've got the knowledge, and belief that it's features, and principles will mean it'll increase in the future, you've basically got a winning formula.

Although, I can understand why newbies would be reluctant. I mean, we're in unprecedented times with a rather large scale war, recovering from a global pandemic unlike anything else in the last fifty years, and finally the recession which I believe is now showing its ugly head globally. Bitcoin was built in response to the last bank bailouts, and therefore I expect we'd need to get mid way through some struggle, i.e midway through the recession to see the results, since people will be looking for alternatives once we start to see the light at the tunnel.

That's not to say we'll be anywhere near out of the recession though. I believe we haven't recovered from the recessions before this, so we'll likely be feeling the effects of this one for a while, especially since it'll be compounded from the past recessions. So, I can completely understand why newbies aren't jumping in right now, it requires a certain mindset to actually invest in these times.

Tell those things when you do able to have experience for a year at least.If you do speak off these things when you arent just a month old learner then it wouldnt really be that precised that you are that prepared.

There's soo much things which you do need to experience before you could really make or mold up yourself as a better investor or trader out of this market.This do really involved unpredictable movement of price,
lots of sentiments floating around,FUD,shills and everything.

If you do lack knowledge and experience you would easily getting dragged along with your emotions and made up bad decisions.

We never thought before that this will happen to Bitcoin, many people are in regret neglecting not to buy more of it and holding long. Because we thought this won't last long but just only have a short life span. It is to assess that we are not totally prepared enough, though we believe and trust Bitcoin but deep inside, we still carry the doubts and thinking that one day this will die.

In fact, what happened to Dogecoin is certainly unbelievable and surprising, and I know those who rejected purchasing this project are certainly disappointed. But, that was the case, it is actually hard when we are not mentally prepared, negatives still circulating in our mind.

It should be the first thing to have
Should be good enough in managing our emotions to lead a good mentality. The mentality in crypto should not be only about mental health to avoid any stress and depression. but also how prepared we are in all things related to the crypto situation.
It starts with our preparation for the learning process, our metal and emotion during the crypto market condition (for bearish and also bullish era at once), and our mental when our investment is suddenly lost much.
Better mental preparation and emotional management will make better actions in the crypto activities, which will lower the risks of lost and stress. m
But, although we can easily speak about it, in fact, this is not easy ti prepare our mental and emotion very well. there must be many obstacles that soemtimes can break up our preparation

I already experienced a bear market, especially after the parabolic run in 2017-2018. So for me, what happened earlier and now which the dump is really too hard, it became normal for me or before I am expecting this after we hit the all-time-high around $69,000. I am expecting a pullback and my thoughts is the Bitcoin Block Halving event, which this event I believe the reason why we will start to recover.

there are so many newbies who come to this forum just because of the huge profits from investing in bitcoin. they (newbie) think if investing in bitcoin will get big profits quickly in bitcoin. they have such thoughts because they learn about bitcoin only by advertising or someone who tells about big profits in bitcoin without giving basic knowledge about investing.
there are so many beginners who venture without any experience borrowing money in a bank just to buy bitcoins and after that only get big losses and just give up without learning from the loss and making their mentally stronger.
but things like that i understand and maybe by losing from that investment they can learn from their mistakes and make their mentally stronger

I started my crypto journey September of 2017 and a few months after that, I already saw the 2018 bear market where all of the coins are free falling. Prices going down, investors slowly losing their money, newbies who invested at the peak are already panicking and I don't know but maybe there are some who feel depressed and regretted their own decisions.

As for me, I'm not mentally prepared when I was a newbie but luckily, I didn't invest at that time, and I focused on learning the basics. Newbies aren't ready mentally for sure but as the days pass by and they continue to learn, they will see how the market moves and how to be calm when people are already panicking etc.

I don't know if I'm mentally prepared already but now that we are in a bear market, I'm patient and calm enough to not make unnecessary decisions that might make me lose money. I'm just holding all of my coins and some of them are already staking but at the same time, I'm accumulating more coins for the incoming bull run.

Most of the users here might agree with this one but it depends on the situation.

This is based on my experience. I made a challenge to myself where I will borrow a specific amount of money to invest into Bitcoin. Of course, I have an income source so that I can still pay the debt. To cut the story short, I already paid the whole money that I borrowed including the interest and it turns out that I also got profit from the Bitcoins that I bought thru that money that I borrowed. Overall, I got some profits although it isn't that much but still profit is profit and it's a bit risky.

I really do not think that anyone comes into the sphere of Bitcoin ready. Who was ready when they first started out with Bitcoin? Nobody. We just tried it and started learning more and more and also making one mistake after another. I think the newbies need to travel the same path and find out what Bitcoin is and what it stands for. Saying something like "how mentally prepared are you?" might make it all seem like a hard-to-do thing and that alone might discourage newbies from becoming coiners.

The only real mental preparation you need is understanding how increasingly worthless fiat is becoming and why the reason is for that. Thats the core motivation to start wanting to keep your money safe. Especially from becoming worthless.

In short, what you want to convey to everyone who is planning to own or invest in Bitcoin is to first learn to analyze and research this matter.
Apart from this, you also want to make it clear that as bitcoin holders we should know and learn when to buy and when is the right time to sell our bitcoin.

I remembered that the year 2016-2018, was the time when the exploitative scammers entered the cryptocurrency industry, they used bitcoin as a front to prey on investors and they were cheated and got a lot of funds due to the lack of knowledge of the masses. investors. And because of these events, many people have learned and are now more cautious when it comes to investing when it comes to Bitcoin.

They should start by reading certain important concepts such as risk, investment and profit and loss. Understanding that investing is not an easy way to make money and developing the intrinsic ability to accept losses and refrain from selling at a loss is very important. I've always believed in the philosophy of enjoying every moment as long as it lasts. You should be able to hold Bitcoin at a reasonable price, but this is not the time to give in to temptation. There may come a time when having all the big money isn't as fun as it is today.

I will never get disturbed with bitcoin and it's investment because I have set my limits and the time that I spend thinking about bitcoin. Literally bitcoin is normal part of my life now just like fiat or gold or any stock that I may buy and play around. If you focus too much on it then you start to give extra ordinary importance to it and when things do not pan out the way you want, it could go over your head and we start doing the mistakes in the process. Mistake of over spending money, getting hurt with the losses they may happen and much more reasons to blame on oneself with badly managed finances.

Peeps are making it full time business and that is all fine. However, there needs to be meaning for the same and enough revenue needs to be earned to survive over it. Otherwise its very easy to call it ponzi scheme later.

There's this saying that experience is the best teacher. I learnt that the hard way. Let people experience, not necessarily from their POV but also from others'. It's all about the experience.

From my understanding we have few people who are only coming for quick gain without having patient to hold till finite, while some are only here for short term investment, same as those who came for long term investment. lemme use myself as a case study, when i heard of bitcoin i never pays much attention to it and was playing since no much knowledge was impact to me less till i was introduced to this forum that was when i began to learn most things concerning bitcoin, also knowing how valuable it.

Few people are just here to scalping whereby they makes little gain from the change of market either by downtrend or uptrend of the market, such people can not be advised to keep holding while they are here for the gain. Talking of privacy, is for those who wants to hold for long term maybe 3 to 10 years such people can be advised to get the best secured wallet for long term investment., So involved to those on short term investment they mostly leave their currencies on CEX where they could easily convert to fiat or stable coin.
The Whales goes for the best wallet to secure their investment.

I don't really get disturbed over the market, since i know its a natural thing that occurs almost all season and time. i wonder anyone who have spend years here could keep panicking over little changes. Those who knows very well don't get moved about the market anymore.

This is a common thing when newbies come in not ready with any mentality, similarly I also had bad luck because I started without learning more about bitcoin and others, when problems came in the sense that the market was going down, FOMO, FUD we were consumed by it so this became my trap has to lose a lot of money because of ignorance and also don't have much experience, therefore indeed bad things can be used as examples and also change my mindset so that it doesn't happen again I continue to change my own mindset how this doesn't happen again in the sense that I have to know more about bitcoin, real investment trading.

For now mentally ready to face any trials, and still will not panic when you see a longer downtrend which is called prolonged bearish.
Long term investment is one of my consistency to keep hoarding more Bitcoin from downtrend market by doing some strategies that I understand and doing DCA or buy dips as an easy practice.
Not only that I have to be strong in facing future obstacles when everything goes well, I will try to accumulate my Bitcoins in the future.

This picture illustrates our journey will not be as easy as imagined but we can achieve the goal.

https://i.ibb.co/KxHHK09/Fd-Q3rq3-WIAAs-N-8.jpg

I agree with you on this thought, as a beginner to the market, everything is very new to them, they will not know what to prepare. Once they get in, they start to make mistakes and find a way to fix them, everything will form from there. The key to being an investor is experience, they need to go through everything during the bull season and during the bear season so they can prepare for what's to come in the future.

Those who failed in 2018 and left the market, when they come back to the market, it is their experience and experience that tells them what to prepare for this bear season, those who continue to exist until now are those who have experienced the bear season before.

when i heard about BTC one thing they used to say with it and that is mining. So when i first looked up on the internet how does mining works, then i found out what BTC works and what it does. That build up my interest in BTC. But people are well known to that fact by now. So their first thought is how to make money from investing in BTC.
This is the reason why people are willing to invest without doing their own research. This is leading to the newbie being panic sellers. They don't understand the concept and try to make money from it.
everyone should learn what they are doing before joining the crypto world, as OP mentioned

You are right, it takes a long process in making a decision to invest. Not only in bitcoin in any type of asset then the first thing to do is learn all the elements related to the asset we want to choose. Prepare mentally during an uptrend, let alone prepare mentally when the market is really down. Because this condition not only destroys the mentality of beginners. Even those of us who have known Bitcoin for a long time often feel that we have not fully mastered such conditions. Believe that someone's mentality is not always consistent with everything.

Always consider all possibilities and most importantly be prepared for the bitterness of losing. Investment is not only about profit and loss, but more about mental, character and psychological education that will always be involved in every decision making.

Trough I have a lot experience before with many kinds hype investing project and got scam almost time I have ready with mentality prepare when investing with bitcoin or cryptocurrency. Some people try to be success investing with bitcoin after hearing how faster earn profit with bitcoin when price still drop and later selling at higher price, but almost of them not preparing mentality when bitcoin crash and loss their funds because in their minds with profit only.

I have got scam many time with hype project investment and I am ready one day later if bitcoin price missing from my predicting and suddenly drop. I have changed my mind with bitcoin is not faster way to earn profit but need process how to learn step by step with right way for investing, maybe some people coming from gambling, hype investment way have preparing their mentality when some day bitcoin investment make them loss.

When I first decided to invest I made it clear to myself that I was just like playing some online games and I used some spare money that I am willing to lose just to acquire some actual experience in trading in cryptocurrencies. It pays well because until now, I'm still here and I am learning from my mistakes every time I failed. Of course, it's not every day a greeny day sometimes a hard failure will hit you in day trading but as long as you stick to the rules about not investing more than you can afford to lose, you are still fine and can easily move on from your loss.

should be if you jump in btc must be mentally prepared when the market is in an uptrend or downtrend and this applies to all crypto,
because newbies will definitely feel the pressure of pressure if the value of assets decreases, it can be said that mental and soul are competing to face the fact that our assets continue to decline,


and this is what all newbies always remind to do not to borrow funds to invest because one day the market will be bad and the crypto world is very difficult to predict

With the experienced I gained for the years I've been into cryptospace, I guess I'm mentally prepared on what might happen in bitcoin in the future. I've been into different scenarios which I made a mistake that leads into selling bitcoins at a loss price. Experiencing too many mistake and too many bitcoin breakdowns leads me into my current state right now. I'm confident on buying Bitcoin and keeping them for a long time.

This is a good thread for newbies who are seeking advice in their crypto journey, But always remember not spend money that you can't afford to lose. I've been there, trust me it's a bad experience.

Also, please do not borrow money to invest in Bitcoin, and only invest what you can afford to lose.
As you told this line is a key to invest in the crypto that you have not need for 4,5 years And on topic i just says that securing profits in this market is very important because in this market we trade against big whales and institutes which dont want to give their money to us they us every technique to get money from us , one thing keep in mind trading is a business in which everyone taking others money if you are clever and knows how to trade then you are winner otherwise give your money to anyone which is more clever then you .

LOL, that's the best picture as an expression of the feelings of bitcoin holders in a bear market. There are many obstacles, temptations and doubts, but when they know that it is just a normal period then they must have a stronger hand and mentality. We can say that we are able to control our emotions, ignoring volatility, but in reality the quality of our sleep when looking at the long red candle is not very good.

Dude, I love that image. I guess that's a fact.  ;D

It is true that bitcoin has conditions but they are not that complex in terms of the usefulness of receiving a payment and send, if we talk about a few hundred dollars in a wallet, the risk there is for us not that of dying.

The theory of bitcoin is 100% necessary, but  being prepared to understand bitcoin includes being prepared to face the realities of life, maybe they should start there, some users, before wanting to conquer bitcoin, should understanding what their true ability to take risks is.

The most important thing in crypto is that you learn to understand the market and become at ease investing and trading in it. That way, you will gain more opportunities to make profits after an inevitable losses at first. Also, patience will have a very important role in crypto. If you can't be patient during the price downtrend, then it will be very hard for you to expect decent profits in the future.

The thing is, this time isn't not really comparable. I've said this a few times over the weeks, but mainly regarding short term pricing. However, those that have been through it before might assume that it's just going to end up like it always has. Although, that's ignoring the fact that these really are unprecedented times with a global pandemic which pretty much stopped the world, a war which basically everyone is involved in at least economically, and compounding recent effects like fiat from rate increases, and the fact that Bitcoin was deemed too energy deficient by a rather large company, which tanked it's prices. We somewhat recovered from the latter, but these are all compounding things that are dragging the price down.

Some of those things are long term events which is going to drive buying power down for as long as it's still a big event. This recession could potentially last years. The UK government just today announced changes to try, and combat a housing crash, and reducing taxes. Obviously, when we get out of the recession those taxes will go up to compensate, but they've already recognised people can't afford to live.

So, while we're all hoping history repeats itself again, I'm afraid that most people are just blindly trusting that, since the past dips, aren't comparable to this one, at least for the reasons why there were dips in the first place.

I don't get worried over the market in as much i know very well that is one common thing that happened within the crypto space i see's it to be gaining back it strength sooner without any fear and i hold without panicking. Don't accept any investment offer from people around me, maybe they heard about bitcoin or noticed i m into cryptocurrencies have been called for investment or seeking for advised on what to do i say to them is to spare funds you could be able to lose without any accusation of stolen funds.
The dip is another best chance to acquire lots of quantity of bitcoin to get ready for the next bull run.

I feel people who have bitcoiners as friends and family are kind of lucky, and they sometimes have a less turbulent bitcoin journey in the beginning, in the terms of scam, fud, panic or investing with a lump sum, their acquaintances most of the time help them settle in well, and they are more prepared than the newbie who is bereft of such a beginning, and who doesn't even know the appropriate plarforms and websites to search for the best information about bitcoin.

Believing in bitcoin is the only preparedness one needs as a speculator, except they are traders, and newbies should not be traders; with speculation you only need to have researched about bitcoin to trust it with your money for the long term. But in as much as you are prepared, do not take bitcoin speculation as a job, it can't replace the role of a real life job.

Even into those people who had just purchased and forget on what they had bought in the past turns out to be that something good in the end without the need on passing and stressing out those huge and stressful

events that do happen in the market compared into those holders which are actively watching out their portfolios and always been watching about market conditions which i dont say its a bad thing
but its totally that stressful if you've been doing these things through ages.

Mentally preparedness would really be entirely vary on someones experience on the market but there are times which cant really be avoided not to make out such reaction and emotions.

If you're a long-term hodler, the first photo checks out. It is just easy as it is to be honest if you're not putting your nose right into crypto. Just buy some few Bitcoin and then just forget that in many years to come. You could check out the price weekly, but that's it. You would not sell or you would not buy or both.

When I was a newbie back then, the second figure checks out though. I felt like "HODL" was just simply keep it held for a week or a month, but nah I was wrong. Now I am here, it does not really feel that much of a journey now as you described since it is just my side hobby to trade crypto. Not trying to be successful since I am to be successful "elsewhere" anyway.

These most certainly aren't universally accepted timeframes, but here's what I think: Long term is several halving events, medium term is either a little while after one halving or two, and finally the short term I see any time really that you can make a trade. So, holding to me is the former of the three.

Obviously, others will have differing views, but generally if you're invested in the long term you need to be prepared to go through rough times, as well as the good times. It's almost guaranteed if you're holding more than a couple of years, since a lot usually happens during that amount of time. Especially with what I'd consider a still developing currency which hasn't quite made it to the mainstream yet, and by that I mean being adopted. The mainstream is definitely very well aware of its existence which is the start.

I really appreciate your thinking and I tell you that only a few people have this kind of attitude and response to the market volatility as most of them are too emotional. Bitcoin can really be trusted by those who are willing to trust as well but this is impossible these people are deeply in doubt in the capability of Bitcoin. As we investing in Bitcoin be sure that we are totally prepared for anything what happen after we buy and of course, we know how to face the challenges as not all the time the market is good.

Yes, now Bitcoin new members are looking for ways to invest without knowing much about Cryptocurrency.
They think that investing in bitcoins can only make them profitable. They should think 'where there is profit there is also loss'. If they invest in wrong place and wrong time then their invested money will be risky. If they want to invest in Bitcoin, it is very important for them to know about Bitcoin first.And those who want to profit by investing in Bitcoin, should first gain knowledge about losses.

I think newcomers & old ones, if they are involved in Bitcoin investment, I think they both have to learn, not a few Bitcoin users suffer losses, if they are not serious about understanding the meaning of crypto investing as a whole, neither are beginners.

I personally understand that Bitcoin investment requires strong patience and strong determination, where many people always regret when they do not have patience in their investment, investment is risky if they are the money they invest solely as a source for their needs, need cold money to put in the investment and to earn better.

Something I've talked about before too. When you think about bonds even or bank deposits, maturity after a year is considered very short term. Medium term is 3 to 5 years (which incidentally is roughly what a halving cycle is)... Long term, and this was in the generation before, would involve thinking of bottom limits of a decade. And it tallies in a weird way, even given how the economic cycle since the 70s is about a decade or so (judging from a crisis period standpoint).

Perhaps it makes sense that people used to investing literally a lifetime of savings or govt bonds are probably the ones actually holding. Not meaning to bash on snowflakes.

Would really also needing that self control since not all would really be having that kind of aspect or behavior specially to those who are just new.You would really be finding yourself to be that aware and having

good control is on the time that you had gained sufficient knowledge and experience on the market compared to those who doesnt able to do so.When dealing up with volatility then this would mostly affect that

emotional aspect which it would really be that crucial to develop and able to control so that you could really sustain yourself into this unpredictable market.

If you have the HODL, don't get rich quick, and don't overextend yourself mindset and not that of the get rich quick, panic sell when market is down, and buy more than I can afford, then I would say your mentality is right.

Mental preparation for me is a function of knowledge and understanding of how BTC works.... For me I'm prepared to hodl for 5 years or more bcuz my I know that soon BTC will hit anothe
r ath...

Anyone who comes to cryptocurrency wants to immediately get a big profit, beginners attribute this to the fact that this is a high-risk niche, which means that here you can both make money quickly and lose it quickly. But no one comes here to lose, everyone hopes to earn money, and therefore the first thing a beginner starts to do is not to buy bitcoin for the long term, but starts trading in order to increase his small capital.
As a result, this still leads to a loss of funds and then they start thinking about investments.

Hype projects are always out thereto scam you and that's a big problem that people face at all times. I am not saying that you should avoid them but keeping a trust towards them will never make you profit at all. It's obvious that you are going to end up with a loss if you keep doing it, and that should be clear to everyone involved, if the only thing that keeps it high is hype then it's going to be going down one day or another.

I personally would suggest everyone to invest into things that make sense in the long run, not depending on hype. I do not even invest into doge, which is an old school project and still all depends on the hype it gets

Mental preparation is not all about preparing for the future but for you to become totally prepared for how to deal with the market situation every day. Of course, many people have said that can manage to hold for 5 years but never I think that they can fulfill it because of possible emotional breakup and losses of their minds then makes them sell earlier. Perhaps, it was very common and usually, people changed their decision because of the influence of their emotions.

In most cases most of the new members buys at peak when the price of bitcoin had risen to the peak ( bought at high) due to lack of enough information and research thinking that the bullish trending will continue thus make their own Profits, meanwhile some newbies follow the trending hype of the massive pump to buy at high, presently the price of bitcoin is low new members wouldn't buy now and hodl until when the price pumped and reach a new highest high invariably speculations start to spread here and there that it price will continue to pump thus ushers in flow of newbies who ought to have bought at a lower price.

No one gets prepared in trading either mentally or emotionally unless you start experiencing losses from it which will eventually build more strength and confidence in you as a trader. The more you create failures and losses in trading, the more you become motivated to learn and grow in trading. However, learning in trading from scratch is good but it will be an edge if you have prior knowledge from trading so you can prepare for it mentally or emotionally.

That's because of the hype. When the price of bitcoin goes super high, there are a lot of news about it, it's from everywhere and mainly from social media as well and that's sort of like "online word of mouth" and that is why I believe that we shouldn't really be worried about the current situation because it's not doing something big at the current moment.

Because, right now it's not getting that much talk, at certain moments it's always a trending topic on twitter for example, those days are risky days for newbies. They see stuff that they shouldn't see and they get hyped and they imagine they could do the same thing as well which ends up failing for sure.

They are things to be learn before venturing into bitcoin investment, the necessary things is the conditions that's attached to secure it's secret, and to the nature of investment we should venture into. The aspect of joining the forum, i have seen that now forum has turned to family thing, many people who register currently in the forum did not research for it. What they did is linkup, to pass the information of the forum to one another, and that brings so many of relevance discussion and mismanagement of Bitcoin investment and not knowing some of the factor that is behind bitcoin investment.

That's true but I don't know how many people do that prior to getting involved in Bitcoin. One of the mistakes I made going into Bitcoin in 2017 was never to have back tested its charts to see how and at what levels price reacted, to figure out the various times it plummeted and how investors and the general market reacted to it. I went in and concentrated on altcoins. I accumulated enough hoping their values would rise like Bitcoin was doing as at then. Sadly, when the bear came after that famous rally in 2017 most alts got wiped off. I think it will do newbies a lot of good if they went searching for previous bull and bear seasons of Bitcoin to understand what it takes to experience any of the two. This will make investors adjust their expectations and at the same time strengthen their faith so they don't panic during a bear season as we've now.

It is a must to understand if what is a btc and how it works but I think being mentally prepared is a different thing. It's about you react whenever there's a change in the market or when there is a big news or fuds that are related to cryptos. It's very easy to say that you will hodl for 5 years but the question is if you are truly committed of doing it?

Because, 5 years is not a short time mate and there might be a lot of obstacles that bitcoin is going to face a long the way. This is why it's important for us to be mentally prepared so that we can endure those negativities or even positivities so that we can continue pursuing the goals that we set.

New investors in the crypto world who are looking for get rich coins shouldn't invest in bitcoins alone anymore. Bitcoin is a developed coin now that many people know, it's not a hidden investment anymore that will make investors rich quickly. Don't get me wrong, bitcoin is still a great investment and returns of 50 or 100% are realistic in long enough time frame. It's just that returns of 1,000% or more are not realistic anymore. For such high returns it makes sense to invest alt coins. New crypto coins which are not yet discovered by mainstream investors can yield much higher returns than bitcoins. But new investors need to be aware that there is a lot of risks involved in the alt coin market. The most important thing is to not put all your money into one coin. It's much better to spread your money  out across multiple projects to reduce the risk of losing a lot.

Some pretty good advice being given here. One thing that I can never stress enough to people is to educate yourself first and foremost. Understand, truly understand what it is that you are buying. In doing so you’ll prepare yourself, mentally, that way you understand what you’re getting yourself in to as well as prepare yourself so you don’t make mistakes by panicking because you don’t understand what’s happening say during a downturn in the market value.

I bet most of the newcomers aren't actually yet "mentally prepared". No matter how much they learn or know about the market, they won't be mentally prepared if they haven't faced the bear market (or the crash) at least once. Most of them end up selling everything at a loss.
Preach more but some people still borrow money to invest in crypto currencies. They hope that the price will go up within few days, take their profit and return the money they took. But that rarely happens and they end up broke and owing a lot of money.

Beginners who come to the world of cryptocurrencies want to get fast results and not everyone will thoroughly study all the questions you have given even after buying bitcoin. The explanation is very simple, people are lazy.

For most, this is just another investment tool. They can compare it, like with a bank, when you come you put money on a deposit and you immediately receive %. But they do not have an understanding that in the crypt you are responsible for your coins, you yourself become a bank.

In the best case, a person will begin to study all these issues when he has already bought bitcoin and he is lucky if he does not lose his coins by this time.

Exactly true don't borrowing money for investing in bitcoin, some newcomers want to get instant and faster result how to earn profit with bitcoin then not worry when borrowing money in the bank or another service place for borrowing money with higher loan interest for investing in bitcoin. Right now faced difficult how to give education for many people try investing in bitcoin by using loan money in the bank, they have little speculative if later bitcoin price down from investment price how to pay monthly although with lower loan interest in the bank under 10% each years.

Usually newcomer or investor using loan for investing in bitcoin they don't have enough mentality, try to get fast way to earn profit with bitcoin and think they can pay loan interest every months with profit earn from bitcoin investment. I think need to change for every investor if want to borrow money for investing in bitcoin.

most of crypto traders are in spot market only. if they are not selling their coins, then  they didn't actually lose it but just the value of the coin.
1btc is 1btc. this should prepare your mind and you won't lose any. its why we rarely see crypto traders go bankcrupt all the way or taking their lives. unlike those in leverage or forex where if the market goes in the opposite direction, he lose money when it touches the stoploss.

Thats the beauty of spot on which you could really able to hold no matter how long it would be unlike on futures or leverage which we know that it could be liquidated.
Making yourself mentally prepared is a must because this market could make out huge swings on a short span of time or you didnt even notice that it was already happening.
Dont expect anytime about making profits because it cant really be that possible for it to happen.Expect the unexpected because price could drop in a matter of seconds.
Secure your position and always set out buy or sell orders or according into your own analysis.

When you use a loan as your capital to invest, especially in cryptocurrency, anything can happen. The cryptocurrency market is difficult or nearly impossible to predict; one can lose everything in a very short period of time due to market conditions, and borrowed money is not your personal money that you must repay with interest as the case may be; this means that you are investing what you cannot afford to lose, which is not advisable.

Investing in bitcoin is profitable but some beginners are not patient enough to wait to earn the profit,  they are too desperate to get the profits so fast .

It is very common that most beginners feel so lazy to know about bitcoin before going into investment . They acquire bitcoin without any little knowledge, when they are unable to bear the dip in the market it becomes a problem to them that affect them mentality .beginners needs to know about volatility of bitcoin and how to survive with it.

I know due to hype many people went into cryptocurrency without knowing much about private keys and the term "not your keys not your bitcoin"
And after getting scammed due to malware in their PC they blame btc to be less secure or hacker's coin.



I agree that one shouldn't borrow the money to invest in bitcoins, it's better that people use their own money so they won't be in debt running trades on their emotions bcoz they have to pay the money back.

It was common for those who are born lazy and had no interest to improve their lives.
Investment as we all know is not for everyone and only a few people know exactly what they are doing than those who are not. I have to accept that I was not mentally prepared for investing in crypto and besides, I was also in doubt at first. Well, changing the course of our minds and the willingness to change our behavior make is possible, and this is what I am today.

Although many beginners like me have joined bitcoin but honestly my mentality is still not ready, even though I have learned about bitcoin and have understood how to invest in bitcoin but until now my mentality is still not ready, because we know bitcoin investment is very risky and volatile compared to other investments, learning from all experiences and seeing the development of bitcoin I do not dare to make big investments in crypto currency, because I am not ready for big losses because my economy is still unstable, looking at bitcoin price history there are several events where the price skyrocketed then collapsed very quickly.

That experience of losing money made you that prepared mentally and what's in it to come.

It's nice to see people that have experienced losing in bitcoin but still instead of giving up, you're staying and is even stronger than before.

Don't worry, everyone who's able to stand right now after all of the dumps in the market didn't go easily as where they're right now.

Everybody has to experience falling down and standing firm is what those losses have taught us. I can hold until I want to but, just like the others who have a target, I've got also mine.

Good, enough bro.. I am ready to buy BTC again with the support of the 10k. So you can expect from there how good I am prepared for the bear haha. Even though I don't have fait right now still I am prepared. As In my term of language as a word is called jugad i can do anything with that term.

OP, I must recommend you on this piece of advice to newbies and and old users of bitcoin. Dealing with bitcoin both in Investment or achievement must have the mentally oriented mindset.

But being patient is what I am some how disprove so I will like to say patient will come from the needs at the time of the users. If the user has other sources of income then he or she can keep the bitcoin till the next bull market but whereby the bitcoin is very hungry and there is no other sources of income just like this flood disaster period where one can not go and do other minor jobs to feed, he or she has to touch (sell) bitcoin to survive.


Therefore being patient is not by force but the present situation of the user of bitcoin. But for the mentally prepared is good advice because if one is not mentally prepared he or she might be disappointed by the bear Market.

True words but regardless of all this kind of advice to most newbies cos I had to expect someone that has been in the space to have gone through the process already and understand what is required. we still have many Bitcoin investors doing it wrong with their investment, Investing in Hyped shitcoins, panic selling during every single market dip, thinking Bitcoin is dead during bear season, and the like because they never took out time to understand what is required to survive in the market. We will continue to have this happen again and again because people can not all act the same.

 

If the price of bitcoin is $10k then you are not the only one. People who lost everything in crypto will also refinance to buy bitcoins. But I personally never think that Bitcoin can go back to that level. Above all I am optimistic about Bitcoin. It will again emerge in a bullish trend soon.

Many experienced people know that fact of 1BTC will be 1 BTC after 2-3 years.But the less experienced people fear on seeing the dump in the market.Surely they enjoy the profit of dollars after the pump market.The panic selling also occur at the dump market.Now the new prediction was the bitcoin to 15k dollars,but bitcoin was recovered with the certain period of time.Before investing to bitcoin,you should keep in mind.You should not do panic selling at any part of trading for the period of one year.

There must be a lot of people chasing the $10k price tag but will that level be possible at this time of year? Despite the many rumors about Bitcoin going even lower I don't believe it at all at that level I'm just focusing on buying now with some practices in place so as not to stop while the price is still bearish, if waiting for $10k is too long and people will get bored of it finally Bitcoin grows back and regrets exist, there should be no need to think about that price, we are better off buying and HODL is more than enough than waiting for a low price.
Well, who doesn't believe Bitcoin will be bullish later, so from now on HODL Bitcoin right now and don't wait for the uncertain.

My advice concerns not just BTC but crypto investing in general. It consists of tiny things but they are more helpful than may seem at first:

• Stop obsessively checking charts every 5 minutes
• Zoom out the charts (any time period several years ago is always much lower than today)
• Be tolerant of losses (in psychology, loss aversion is when the response to losses is stronger than the response to the respective wins)
• Study your macropsychology (ultimately, it's never about cryptocurrency. It’s about your psychology that is the cornerstone of everything)
• Do not quit the game - go deeper (the outstanding projects of the next bull cycle will be launched in the depths of this bear cycle)

This thing should be bare up on your mind always on which you should really be accepting the risk and dont ever consider on taking up some loan or borrowing money just for you to invest on bitcoin or other altcoins

You cant really be that having an assurance that you would be ending up on positive plus there's no way that you could really able to know on when you would be making profits which means you cant determine
on when you would be needing up to pay those loans.

If you do have some money set aside then its better to make investment out of it.If not then you dont have any options but to take loan but you should really make
yourself responsible on paying on those due date.

They must first get knowledgeable about Bitcoin by learning about it.  Individuals will start to believe in Bitcoin after they have a fundamental understanding of it through the use of sources like the Whitepaper of Bitcoin and Bitcoin Wiki. Most of the time, people are unable to comprehend the need of learning the fundamentals of bitcoin investment before getting started. They have little to no knowledge about bitcoin and ultimately suffer significant losses, regretting their choices in the process and calling bitcoin a scam sometimes. They should also try to consult on some friends who are into cryptocurrency, I think they will help you to start and they can share some knowledge about bitcoin.

In truth, one cannot be fully prepared enough for the various market conditions that comes hitting you unexpected. The bullrun for sure is one without worries except for regrets on the part of investors to have made some bad decisions during the bearish market but, its in the bearish market that a lot of investors gets a tingling in the head.
You begin to wonder how come you never noticed it even with the level of exposure you've got.

The thing is, you can never fully understand but theee is a true to it that have not been disputed. You never lose by holding and so when yoi dont understand, just hold. That how prepared i am!

As you repeat, 1 Btc is still 1 Btc there is no further price moving for me. My mental situation is better than my first time in this place. Because this forum is help me to get new ideas, experiences which from other's expensive lessons etc. I'm lucky because many other investor didn't find this forum. And they followed bad decisions and lost their money, mental situation and their happiness etc etc. And final word is dont borrow money for investing cryptocurrency and don't borrow money with cryptocurreny coins it might be in future far valuable than today

if someone X takes 30,000$ and buys 1 BTC for the price of 30,000$ and then the price of bitcoin drops a lot to 20,000$ and if someone Z appears and says: " don't worry because 1 BTC is still 1 BTC " honestly, this person Z will not be understanding that person X in the bank had 30,000$ and in his wallet the 1 BTC is 20,000$. this is a big loss and no matter what is said, the person X will be sad, because he has losses

if you calculate it in Fiat of course it is a loss, but if you realize that person X has not sold the 1 BTC to the price of $ 20,000 then there is no loss for him, it's just the price that will continue to move if you keep holding 1 BTC. In the long run it will be profitable and don't sell below your buying price. there will be no loss before deciding to sell. Mental readiness is needed because the market fluctuates quite quickly.

To be honest, the only thing I knew way back then was I could earn money in Bitcoin. I knew from the start about its volatility, so I didn't panic about Bitcoin whenever there's a news saying "Bitcoin is dead" every bearish market. Every days that passes by, I learned more about cryptocurrency which helps me to earn even more. I even dropped out of college because I find my passion here, my career, because I don't want to be an employee.

After we enter this forum, it is clear that our mentality is getting better, different from before we got to know this forum, because there is still minimal experience and knowledge that we get from bitcoin, but now our mentality is much better, because of the very valuable experience we have. Getting on this forum makes us even more convinced that bitcoin will indeed be a very meaningful asset for us in the future, if I didn't know this forum, I definitely don't have the mental strength to store bitcoin assets for a long time.

Are these your ideas Moskalfa Goodboy ?  or did you get them from somewhere?

Do you apply these concepts to your own  investing?  What's your investing experience?

Do you know the difference between bitcoin and crypto and/or other traditional investments?




Your framing the matter like that causes me to consider that  you might not know the differences... There are difference, and different ways that you might invest.. to the extent that crypto is even a category because investing in "crypto" depends on what kind of piece of shit project that you are investing into and what might be your investment thesis for such largely likely piece of shit scam.

Bitcoin is a different story as compared to both crypto and as compared with various traditional investment asset classes, too.


How would you know if people are obsessed?  And what is the reason to NOT check the price/charts every 5 minutes?  Would it matter on what the person might be doing?


Not necessarily true.  It depends on what you are talking about.. You cannot just expect that all investments are going to go up in the long term whether we are talking about bitcoin, something like crypto.. whatever the fuck that means.. maybe something like shitcoins, shitcoin related projects?) or traditional investments.  There's some need to have some understandings regarding what your investment thesis might be in regards to various investments, but then also it likely would help to figure out what stage of investment portfolio building a person might be too.


Sure that's a general principle that applies when a person is engaging in investing based on expectations that the fundamentals of whatever they are investing into are generally strong on a long term basis... does not apply to all assets.. but it may apply to bitcoin, but I would not assume it to apply to shitcoins, and it may or may not apply to other traditional investments either.. just depending on which one we might be talking about.


Yes.. I would become a psycho if were to be investing into shitcoins.  Now if you are referring to bitcoin, then that might be a different story, and it is best to attempt to set up your investment strategies in ways in order that you do not become emotional about it, or you figure ways to lessen the likelihood that you would become emotional.. but in any asset that has potentially high volatility, including bitcoin, then it is best to both account for the possible volatility and to set up your investment strategy in ways that attempt to account for possible extremes in volatility.. maybe easier said than done, but as a general principle, there are techniques to be able to attempt to lessen becoming overly emotional about investments, such as bitcoin, but it likely cannot be completely eliminated unless we were to transform from being human toward becoming robots.


Why? Why is there a need to explore projects?  We have bitcoin? what other projects do we need to explore? 

Are you thinking about researching a whole bunch of crap projects, hoping to find a gem and then getting in on the ground floor of some shitcoin pump and dump that might launch? 

Does anybody got time for that nonsense?

Why not just focus on bitcoin.. Bitcoin seems to be amongst the best of asymmetric bets that have ever been broadly available, and it is likely ongoingly involved in the largest wealth transfer that has eve happened.. So why go beyond bitcoin?  Are you suggesting that there might be a need (or wisdom) in terms of going beyond bitcoin?  That's the kind of nonsense that shitcoin pumpers like to talk about on a fairly persistent basis.



If you are able to set up the terms of the loan, then you are able to know everything about it, and you can attempt to figure out if it is a good idea to enter into a loan or not. 

For example, if you are able to get a loan that is a few percentage per year (APY), and you pay off the interest only or interest and some of the principle over 7 years or longer and you have a balloon payment in the end, then that would be a pretty good loan to take if you know how to invest it and if you know that you have income to pay off the loan and/or other sources besides the thing that you are investing into.  With something like bitcoin, it may even be o.k. to presume that you would be able to pay it off after 7 years with bitcoin proceeds.  People should be able to weigh all of these factors, so it depends on what kind of loan, and what is the persons cashflow to be able to service the loan during its terms.  My main point is it is not automatically a bad idea to use debt to invest into something like bitcoin or any other investment, as long as you are able to weigh the various factors and to figure out that it is better to take the loan than to not take the loan.  I will agree that some loans are oppressive and they should not be taken out, so the devil is in the details whether it would be a good idea to take a loan that you believe has good terms relative to your overall financial situation.

Exactly, but the issue is, I believe most investors are not mentally ready for that. They only want to see the price of BTCitcoin going up from where they bought, which might not be that case. Mental readiness is knowing what your target sell point is and until that is reached, you don't border about whether if fell from your price of purchase. 

what I mean is that for people who take their fiat and buy bitcoin, what counts for them is the price of bitcoin in fiat, if the person bought 1 BTC for the price of 30,000$, in the person's head it only counts 30,000$ , if the price drops, he is already sad and worried, the person is not relaxed thinking that 1 BTC = 1 BTC, but when someone is offered 1 BTC, no matter how much the price drops a lot that person will not feel worried, for that person 1 BTC is still 1 BTC


people are prepared, what I'm talking about is that when someone withdraws 30,000$ from the bank account and buys bitcoin for the price of 30,000$ and the price drops to 20,000$, that person will not be calm thinking that 1 BTC is still 1 BTC when he thinks that if he sells he will have 20,000$ in the bank account, in short: people who buy using fiat are looking at the price in fiat, they care to see your trust increase, you won't come to them and say: " 1 btc is still a BTC when these people are at a loss." this is an investment and people want profits

Yes, for sure. He is a short trader. But what if 3 years later he could buy a house with furniture and a car for only 0.3 BTC without converting it to fiat?
It's really not easy to say 1 BTC = 1 BTC when they are losing. Because they are people who want to get rich quick with crypto trading. If I am a short term trader, perhaps I will be angry too.

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This is what the OP said:

Yes, anyone in that case will be very upset because our account lost money. But in this situation it's an investment, you can't expect bitcoin price to always stand still, always make a profit for you. If you don't sell, you won't lose anything and just hold bitcoins, bitcoins can go up to $40k or $60k, then your assets are no longer lost but doubled, tripled. If you don't hold bitcoin instead fiat, your assets will never have a chance to grow.

-  In short, the point of your statement (OP) in general is that if anyone tries to enter the bitcoin or crypto industry the main thing to do is to study or learn what there is to know about bitcoin or cryptocurrency.

   Almost everything you mentioned OP is very clear and your explanation is clear. I don't know if the newbies who get into something like this don't understand that yet. Because we all know that entering this industry is not an easy thing, it requires Study, perseverance, discipline, breadth of understanding, dedication, and above all, determination, if anyone wants to succeed here in the cryptocurrency world.

When you want to be successful in any profession, the things you mentioned are necessary and sufficient conditions for you to become successful. In crypto too, in order to survive and become successful we have to trade a lot of things, but as a newbie, they won't be able to build those things overnight, they need time. What I want to remind newbies is, this market is not a get-rich-quick place, nor is it a place where you just need to put your money in and make a profit. This is the most volatile and harshest of all financial markets.

This is where a lot of newbies get hooked, i have many of them like this on my list, they walk up you and what to know what you do for a living, you tell them you are crypto trader or a bitcoin investor, they go back home, another day, they walk up to you and ask if you can teach them how to make money in crypto currencies, and you are like "sure, why not" and the learn begin.
After successfully buying their first Bitcoin with their mindset of cashing out in millions same week if not same day, Bitcoin records a -0.8% in price and their portfolio slightly decreases, they start calling you, "Bro, this thing is going down and the money on my account is reducing, why is it so" and my reply and reaction was "welcome to the world of crypto"  ;) ;)

The above is a scenario i had with one guy recently who thought i started making money in crypto same day i joined the space, i do not show such people mercy, or try to baby sit them, because if i do so, they will never learn stand on their own, they will want you to do virtually everything for them, and when they fall into the wrong hand or make a wrong investment due to their lack of proper knowledge, they hold you responsible.

I think not borrowing money works for any thing or activity not just bitcoin.

We are in times of taking advantage of information, one cannot go with people as if you wanted to take them by the hand, today access to information is within reach alls.

Maybe 10 or more years ago this discourse with bitcoin was efficient, the discourse must be renewed.

There is no excuse not to have bitcoin, know what it means to hodl, sell or buy and have the basic knowledge of security.

One of the most common mistake into those new people or noobs in the market is that they do really have those kind of thoughts which they do really believe that money making here on crypto space is really that easy which we know it would really be totally opposite or thats not how the reality works.

Its hard and just like into those typical physical or casual things we've been doing in real life which you would really be needing to exert effort for you to make profits or money.
You cant really just make yourself sit down without doing anything because you wouldnt eventually able to earn if you arent doing any actions
and of course mistakes and errors are part of the process and this is why its important that you should really make yourself that prepared.

True, we can't force everyone to be patient, but at the same time, we can't encourage them to sell off at a loss in a panicked manner. If your encouraging opinion seems not to be adhered to by the new investor, then they should be allowed to take their final decision. I know you are an old member of this forum, and that tells me you are knowledgeable enough about Bitcoin. If you have a friend or fellow who bought 1 bitcoin at $50k but wants to sell it at $20k, I believe you will have something to tell the person. You wouldn't force the person, but if you have more knowledge than the person, you can give advice or encouragement to the person for him/she to hold.


Most of the time, people regret selling off not because they had any need for the money, not because they wanted to live life to the fullest at that moment, not  because they were mentally retarded, as OP stated, but because they never had an experienced person who encouraged them to HOLD tight and wait for bull to run.

I once had fobia for crypto investments and the fobia increased as of 2017 when a neighbor was crying and complaining how he regretted selling his coin for $5k but would have earned up to $50k if he had not sold. He said, "How he wished he had seen just a person who had advised him to hold on just for a longer time."

There is a teaching in my religion that "he who loves a brother or sister will never let them fall astray". It is true that some sell out of their ignorance, and it is their right to do so. No one can force them to be patient. But some people sell out of panic (fear that their assets might liquidate) and nobody was there to tell them to just "hold for a little longer". Everyone who decides to invest in Bitcoin must remember that Bitcoin+Hold = profit (just an example). If you can't hold on, you won't make much profit, and you may incur some losses if you sell below what you bought.


Dr.B_S 💌

I am not much of a fan of the expression 1 BTC = 1 BTC, even though I understand and I agree with the sentiment that involves attempting to consider various ways to think about your BTC investment in long term ways in order to create a variety of goals to help you to continue to stack sats whether your investment period is 4-10 years or longer, and in any event, sure there are needs to also consider whether or not the amount that you invested into BTC and/or that you continue to invest into BTC gains in value as compared to if it had been left in dollars - but at the same time, investing into bitcoin remains a kind of insurance system, too.. so it may not end up seeming to pay off in terms of dollars in the short to medium term, and even in the long term, it might have had been keeping value in dollars - even though it is quite doubtful that keeping value in dollars is actually going to pay off if you really consider the matter in terms of 4-10 years or longer investment time horizons.

If you consider the extent of the irresponsibility in the whole fiat system that involves the dollar as the strongest of the various fiats, but all of the fiats are considerably fucked in terms of their ongoing inabilities to hold value in terms of goods and services, and there is pretty damned close to a 100% guarantee that each of the fiats is going to depreciate in value, especially when looking out 4-10 years or longer - so in that regard, consider how much value you are going to put into BTC and how you are going to invest into BTC over the next 4-10 years or longer, and do you merely consider investing a lump sum at whatever price BTC is right now and waiting out the 4-10 years or longer or do you continuously inject value into bitcoin until you at least get to a decent percentage of your net worth into bitcoin?  

How much and how you get into bitcoin are personal decisions that are going to vary based on a variety of your personal circumstances - including but not limited to if you are brand new to bitcoin and/or brand new to building an investment portfolio or if you already have built an investment portfolio (whether or not it might currently include BTC contained therein).

We are still quite early to bitcoin, and there are a lot of people who are really smart when it comes to a variety of issues, including investing, but they may well be dumb as fuck when it comes to understanding what role bitcoin currently has and where bitcoin is likely going, which might even get into misconceptions in regards to knowing how to valuate bitcoin as compared to various traditional investment possibilities, and they might not even realize how fucked the whole system happens to be in terms of how a lot of assets have been corrupted by relatively long and ongoing corruption of various fiat systems that are having troubles keeping up their valuations because they are in a printing pickle (dilemma/trap) that they are having quite difficult times extracting themselves from the ongoing propping up of value and mis-valuing goods and services, assets and a variety of corruptions in the valuations - and it surely seems that bitcoin has a role to play in terms of hedging and giving options to those who can somewhat understand and appreciate its hedging, options and insurance providing features that happens to relate to its ongoing soundness that people might not be recognizing when solely valuating it in terms of how many dollars they might get from it.. and you better have some of those bitcoins when your millions of dollars can only buy you a cheap used car...


Maybe it is better to say that fiat is guaranteed to lose value, and even though bitcoin is NOT guaranteed to gain value, at least it is not guaranteed to lose value.

hahahahaha

I am not sure if I said it any better than you did, DanWalker.


Fuck shitcoins, and your use of the term crypto currency and your framing some kind of need to study the "crypto world."  That's amorphous as fuck in regards where to put your value and your mental energies (and perhaps time too?).

There's a need to study and understand bitcoin first, and then once you understand bitcoin and figure out your investment thesis in regards to bitcoin, then maybe if you have any time and/or mental energies left, then you can dabble around with shitcoins, but the main ticket item should be to figure out what is bitcoin, what's bitcoin's investment thesis and what role bitcoin plays in this whole matter, and figure out your own plans and strategies in regards to bitcoin first.. and once you got that figured out, then maybe you can dabble a bit with shitcoins and figuring out the various scams in the "crypto space" and the extent to which you might want to get involved with any of that mostly nonsense.


Why is trading necessary?  And what is crypto?  Why do you use that term?  What is it from your point of view?


Maybe you are partly responsible if you are using the term crypto when you are talking about bitcoin which surely is not helping matters for you to be using the term crypto when you are talking about bitcoin, is it?


Are you talking about the real world?  or just theory?

I understand your point that because of the internet people can get access to good information, but people get confused in regards to what is good information, even if the information seems to be available to them.  


I would try to tell them not to be retarded.  hahahahaha

If they bought 1 BTC at $50k, and they have not done shit since then because they had ONLY prepared for the BTC price to go up, then they better figure out why they had gotten into bitcoin in the first place, and why they had gotten so excited that they failed/refused to prepare for either UP or down, and they ONLY prepared for UP.

So, if they have run out of cash, then that kind of sucks. .and sure maybe they just have to figure out how to make ends meet so they do not have to sell at a loss, and it would even be better to figure out a longer term strategy that could get them to continue to buy and to bring down their average cost per BTC, but if they had really over-extended their budget and blew their whole wadd at $50k (presumably around a year ago or so?) then there surely seems to be some needs for them to evaluate their various expenses and their income, and sometimes it is not easy to get into these kinds of particulars with people, including that maybe they had lost income or their expenses went up way more than their income.. which is happening to a lot of people in the last couple of years.

Sometimes people will share part of their financial and psychological story in regards to why they had gotten into BTC in the first place, but sometimes it could take a while to flesh out why they are feeling that they need to sell at a loss because they are scared and they had over done their investment into bitcoin in the first place.  Sometimes they won't really share or if they do share, they will just tell you about something that they had already decided to do (which is to get out while the getting is good, from their likely misinformed perspective).


I don't really disagree with you, but people get into things such as bitcoin based on merely superficial assessments, and a lack of a plan in case the price moves against them.


Many people sell too soon and believe that they are geniuses, and another mistake is selling on the way up, but then buying back too soon, and then regretting that.  It's not easy to have a plan and to be able to stick with the plan and then also having a plan that allows for extremes - and extremes in bitcoin have seemed to have happened so many times in the past, and they are likely not going to stop any time in the near term future.


Yeah.. but there is ONLY so much any of us can do.  People can be stubborn and they make up their minds or they do what appears to be the wrong thing, and it is not even clear (many times) if any of us might have superior information.. Sometimes it appears that the other person is wrong, but in the short term, it might appear that they could be correct, and they are taking the right actions to protect themselves.  Even though many of us might have had established a reasonable/prudent strategy to manage our investment and our risks (both financial and psychological), yet sometimes it could take several years before we end up being correct, and in the meantime, we might have several years of looking like we might be the one who is the fool.


Many times we cannot necessarily know that they had gotten into bitcoin in a way that was too BIG for their situation - either financially or psychologically or both.


It's not guaranteed that any of us are going to make a profit by HODLing our BTC.

I'm just one of many people who buy bitcoin little by little, not all at once. Other than that I have a pretty good job so I don't get disturbed by price charts, and I'm sure a lot of people do. To be honest, I don't have a super target on how many fiat I should reach by selling BTC and when to sell it. If I think I could get a high profit at the time, then I sell it. So I'm a people who are relaxed in this case.

---

Moreover, I think BTC is not a way to get rich quick, even if 4 or 8 years from now, because of the price and movement; it takes a lot of money to do it. The only way to get rich quick from cryptocurrencies might be to join in gambling on crypto exchanges, aka trading with altcoins.

I think it's right to buy a little but do it often then we will still have a lot of Bitcoin during the years we do, even though we have a steady job in income it doesn't mean 50% or 70% for investing in Bitcoin but we are more important other needs that we need to make it easier for us but should not leave Bitcoin because we know this investment is sufficient as a long term with a relaxed journey.

And enjoy how to buy Bitcoin with a little without any disturbance, in this case not the profit earned but how much Bitcoin is collected and of course the next 5 years the price will be different from now so the reference value of Bitcoin will remain high.

No one gets rich quick, even if it's trading in altcoins, you will still be trapped as well how altcoins are always dumped suddenly, so nothing is instant but it still takes a long process.

I think the modern world is one big mental ordeal. We live in a world of great speed and rapid development. Everyone has access to the Internet. And I believe that before putting money on the exchange, any person should first familiarize himself with the principles of trading and cryptocurrency. The main thing that beginners should not do is to take loans against the security of their apartment)

Perhaps it is, because if it all boiled down to the fact that we would see only bitcoins on the balances of our wallets without their expression in dollars, then we would not see any changes and there would be no excitement from a growing balance. Of course, if this money weren't invested in bitcoin but just kept as savings, it would only lose its value from inflation, so all investors like to see the balance in dollars to understand how much their investment has grown. In a 10 year time frame, this will be much more tangible, fiat currencies are constantly printing more and more, so governments are trying to solve the financial problems that they face, but this all leads to only temporary solutions to problems, and in the long run it will only lead to an increase in the rate of inflation.

There are many traditional investors who have an old way of thinking, it's not bad because they were able to make a fortune, but the fact is that in our rapidly changing world you need to be able to be flexible and be able to adapt to this world. If this is not done, then you are right, a moment may come when these states that are stored in dollars will not cost anything, maybe I exaggerate, but if you gave an example when a car can cost several million dollars, and this is possible in the long run , and even more so if the inflation rate is accelerated since there were a lot of fiat dollars printed and I don’t know if they continue to be printed now. Bitcoin is an opportunity that is worth taking advantage of, otherwise it will be possible to regret it for a very long time.

I like how you think, I do believe that people who have bitcoin and wait for it in 8 years will be rich, because the expectations of bitcoins are rising more and more and since 2017 it rose to the price of $20k, people went crazy , when this year it is at $20k people and many say that it is dead, now in 8 years when it goes up a lot let's say to 150,000 dollars and then goes down to 70,000 which was the previous ATH, people will say that it is finished, the fud It works like this, opr that ´I think if they will be rich, and hopefully in 8 years from now I will manage to get my first Bitcoin to be able to have a more relaxed life.

Having lived and experienced all soughts of bitcoins ups and downs, at this point am in a better position to make informed decisions when it comes to investment which certainly won't negatively affect my mental health as I treat such investments as a wager am willing to lose without crying about it.

Honesty this is easier said than done because you have seen the otherside , a layman that is always told bitcoin is the way to go, told price could grow X100 anytime soon will not think twice but invest which isn't how to go about with crypto investments.

Well to be short and clear if you are into this market for a long time you you are definitely ready do everything even for the time when the market collapse or rises up in a few seconds.

Once you do step your foot into crypto then you should really make yourself that prepared for whatever situations you might faced on whether it would be a bearish or bullish run.
Once you do have the sufficient experience and awareness on how this market works then you would eventually be mentally prepared on possible thing to happen ahead.
Although, it wont really be that an assurance for you to make out guaranteed profits but at least you do already have the idea on what you should gonna do on certain circumstances.
You wont really be making yourself get prepared until you do able to have that actual experience.

It is important to make a period of investment in bitcoin, this will make people more mature and feel right when bitcoin finds its ATH again. For example 10 years ago, some people thought of bitcoin as an ordinary investment, but in fact bitcoin went to the moon in a certain year, then the use of bitcoin for people who thought like that obviously did not develop, until in the end they took part in the next period, even though at that time they began to open to bitcoin, today the assets they have are increasing and are much more leverage.
Maybe me and some people who think so have been left behind by some period when bitcoin started going to the moon.
And I don't think that the dollar can maintain its value in the long term, because when the dollar is converted in the form of purchases of goods, the dollar's value will also decrease and it will not be able to maintain its previous value.

It's simple, when today we save $1000/$5000, then the next 4-10 years the dollar will depreciate, maybe even buying a pack of cigarettes with that amount of money is no longer enough. Because some products will continue to increase in price, that's why fiat can't maintain value.
While bitcoin is speculative, it is still capable of maintaining value, and interestingly for bitcoin, in the next 4-10 years it is likely to reach the next ATH, thus the value of bitcoin will continue to increase, not decrease like fiat currency. Because talking about bitcoin, there is definitely a cycle in it, so the correction and recovery process will arrive at the next process.

This is a technical thing to learn, when is the right time to make a decision on investing in bitcoin, and I think a lot of people understand this condition.

Many of the problems caused by the traditional investment system, fiat has experienced the worst system to date, where corruption, injustice and even guarantees of protected human rights no longer play a role. It's true that this is not completely borne by third parties, we are constantly given difficult choices, but there is no solution that can be presented by them (not anti), but the reality that we experience is like that.
So that the role of the individual is a special method that must be developed, so that we have our own style and rules in living life, do not violate the law and do not forget the meaning of humanity are two things that are enough.
Bitcoin is also capable of maintaining insurance options, but it is independent, we control and we also hedge, if the dollar could only give us a small house, a used car and an ordinary life, then bitcoin could give us ten times more. It's just a matter of time and keep collecting bitcoins, then we'll go to the moon when the next ATH arrives.
Due to the fact that I experienced, very close to what you said, that means slowly and gradually accumulating bitcoins is the right step in preparing yourself for the moon.
Cheers

For some, borrowing money is pain in the head but I know there are people here in btc who use that strategy to accumulate more coins, or if ever they need money. They can't just afford to sell their btc.

It might be easy now to look for information because we have cheap smartphones and faster internet but there are still people who are too lazy of doing it. They only use those resources for other things which are not really beneficial for them like playing online games and watching cat videos on the web. Not all people are into btc and they have reasons or excuses about that so don't just talk negatively about them if you don't know their story well.

I've thrown away that idea. In my mind, relaxing life with owning bitcoins is only a fantasy. Since the conditions of the world or country will always be updated, it's possible for a relaxed life ^{(like people want)} to turn into a bad one in a short time. In this case I choose to relax from now on, buy Bitcoin when I have the money, hold it, and convert to fiat when I need it. Simple.

Your way of saying this seems to come off a bit differently than mine, even it seems that we are coming to similar conclusions, at least in regards to bitcoin having had had a strong investment thesis and continuing to have a strong investment thesis.

When I read your above description, you seem to suggest some kind of fatalism, as if it was inevitable that bitcoin would succeed or even that it is inevitable that some day bitcoin is going to reach another ATH, and I am somewhat bothered by that kind of a framing even if you might end up being correct in terms of results.

I do believe that it is nearly inevitable that the dollar is guaranteed to go down in value because the underlying monetary philosophy and practice that underlies the dollar causes it to have an ongoing push down on its value - both in terms of the ongoing printing that dilutes its value but also the underlying system of seemingly perverted incentives that suggest that people have to be incentivized to continue to work because their saved dollar will be losing value sufficiently great that they will not have the same purchasing power in 10 years or longer.

When I got into bitcoin in late 2013 (which is going on 9 years now), I had continued to invest.. even during the long downward price moves of all of 2014 with the BTC price going down the whole year and also the BTC price staying down for almost the total of 2015 because I had considered bitcoin to have a good investment thesis and likelihood to do as good, if not better than my traditional investments (in stocks etc) that had largely ONLY performed on average around 6% per year for the previous 25-ish years... So I figured that if bitcoin at least performed on par to the the stocks, I would not be worse off by investing into bitcoin, so I put enough into bitcoin in order to attempt to account for the possibility that bitcoin may or may not perform equal to my historical stock investments while accepting that BTC could end up going to zero.... and at the same time, my idea that bitcoin could go to zero was off-set by the idea (that I could see from the historical charts) that bitcoin had chances to way out-perform my traditional investments.  So if I attempted to calculate both the possible upside and the possible downside, I felt that I was able to reach a valuation that allowed me to conclude that investing into bitcoin was at least as good as investing in traditional investments - so in that regard, I was able to justify to attempt to invest into bitcoin at an allocation that was proportional to the value of my stocks to bitcoin.. In the beginning, I did not know what my bitcoin investment comfort level was going to be or my allocation into bitcoin, but after about a year investing into bitcoin, I figured out that I wanted to put 10% of my then quasi-liquid total investment portfolio into bitcoin... So I figured my allocation to BTC amount based on a formula that I considered as comfortable to me in terms of my various individual factors.



Yes.  Overall the dollar is nearly guaranteed to lose value, and bitcoin had great chances to continue to increase in value - especially if we are looking 4-10 years or longer.
 

Of course, people have to decide for themselves, yet to me, it seems that if someone does not have any bitcoin, then the best thing to do is to get started right away and without delay. Get some systems set up in order to figure out how to get bitcoin, and then once those systems are in place, then the next question might be a matter of how much.  Personally, I believe that no matter what the BTC price, it is not good to wait, especially if you do not have any bitcoin.

On the other hand, we know that bitcoin can be quite volatile, so it might not be as wise to invest into bitcoin while the price is going up exponentially, so that can be a much more difficult decision to figure out when and how to get into bitcoin when the price is going up....  I am not going to necessarily proclaim to know the answer regarding how to deal with BTC price going up and how to get in during those periods, and people (especially no coiners) have to decide for themselves how to get in with the combination of DCA, lump sum investing and buying on dips.

One of the reasons that low prices should be greater justification to get into BTC, even though we likely realize that more people seem to get into bitcoin when the price going up rather when the price is going down or seemingly stagnant and low like it has been in the last 4-5 months or so.   .. maybe part of the reason that people have tendencies to do the opposite of what they should do by buying bitcoin (and getting in) when the prices are up and selling bitcoin (and getting out) when price are down.


Well, it seems that some of the difficult choices that we have will result in our attempting to figure out various less worse solutions, and I am not even conceding that we necessarily have to be pessimistic about having a bunch of bad choices, and we can look at them in the negative if we like because systems have trade-offs and the various systems do likely bring good outcomes even when some people disproportionally benefit from various systems, infrastructure and rules that are in place.

Accordingly, bitcoin seems to give everyone access to a possible way that s/he can benefit disproportionately as compared to other systems that had been available to him/her.
 

Well we have to find our balance and what we believe binds us to "law" - especially since not all laws are just, but we are likely going to be more grounded if we have some kind of a vision regarding what binds us and motivates us.  Without necessarily moralizing, there seems to be a certain morality that comes through something like bitcoin in terms of its seeming neutrality... a kind of neutrality that allows for the measurement of value that is not robbing from the people and disproportionately giving the robbed money - such as what the fiat system seems to inevitable gravitate towards those kinds of trade-offs, but bitcoin does not necessarily get rid of various traditional systems in which man is still making rules that are likely (or meant to be) compromises in society.


I think so... If you do not overdo your attempts at accumulating bitcoin, it is likely to have decently good chances of paying off for you, even if it might not make you fuck you status rich, it is still likely to make you better off to have had accumulated bitcoin as compared to if you had not, so long as you do not over do it.


Part of the "secret" in regards to advantaging in the long term from bitcoin, is to continue to accumulate it, rather than spending it whenever it makes you feel good in the short-term.

So yeah, sure, you may feel that you have been living a happy and unstressed life, but you are not likely going to be able to benefits from what seems to be one of the world's greatest wealth transfer systems that have ever come into existence.

I know a lot of people like you who have lived a good life all of their lives, but then when they get to the time that they want to retire and/or to slow down their work, they are left in a state of continued need to hustle and to save and sure maybe that gives them meaning, but they would have likely have had been better off if they could have stopped or slowed down in working rather than being forced to work later in their life than they would have preferred.  

If you have a longer term view, then you accumulate BTC.. even if it is ONLY $10 per week, and don't dip into it.. and let it accumulate.. and figure out other ways to satisfy yourself with your normal income and continue to save and let your savings build up and when you get at or close to fuck you status with your savings and investment having had been built up, then it will likly be more apparent how to start to draw from such investment without depleting it.. which usually is around 4% per year... which is a whole other story.. first is to build and get to the status in which you might be able to start to draw from it in a kind of perpetual way... and you never even get to that status if you keep converting it to fiat in your purportedly "simple" way that never allows it to either build in value nor to compound upon itself.

Yeah, you are right. But what I mean by "when I need it" is I only convert to fiat when I don't have money. If I still can get the money from my job to pay my living costs, what do I need to change it for? I didn't think about short term trade.

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Thanks for the input. I'll take it as a consideration.

The difference is unique and beautiful actually, because it will find some arguments with different patterns and ways of thinking, but in the end will find the same conclusions in each discussion. This is a way we take care of the ability to think and analyze problems.
Rest assured, this kind of thing will not bother anyone, because indeed bitcoin will do that, although we can't be sure of the exact time, you taught me about optimism in the previous discussion, even though it was not said directly, that means my statement will not bother you and others regarding this type of framing assumption, bitcoin will surely re-invent ATH, am I wrong on this?
and I know the answer, although sometimes you won't say it out loud, and it's inevitable when it comes to the next ATH for Bitcoin.
That's the reason the traditional model will not help one in changing the investment style, considering the times and technology have presented many ways to get out of monetary practice, the dollar will continue to experience a decline in value in the case of storage, that's why we must take part in Bitcoin, let alone relate to purchasing power in the next 10 years, the dollar is clearly unable to maintain value.

The bitcoin cycle is complicated to understand, that's why we often call it Fluctuation, but we have been taught how bitcoin goes through a long process, so no one thinks any level of investment is safe to make or vice versa, your experience may be longer than mine, that's why I'm sure you won't have any problems when I start framing about ATH. Because honestly bitcoin is too unique to understand, and too difficult if we don't try to speculate.
I quite agree about the amount of investment, we can set the level of comfort and the value of bitcoin that we must have, the allocation can be different, according to the authorized capital, previous profits and the level of additional purchases, if someone knows to buy at the right time, then that's when someone will feel confident in bitcoin.
I'm not very familiar with stocks, but in general it may be almost the same as the investment pattern, but I agree more with the use of bitcoin than stocks.

This is what drives me to continue to increase my investment in bitcoin, the dollar will never be able to maintain its value, while bitcoin in the next 4-10 years will continue to show its existence, especially in terms of utilizing investment and generating maximum profits.

It's better to collect bitcoins, than to convince others to start. I mean people will understand that bitcoin is growing and improving year by year, if they start to try and stop spreading negative things about bitcoin, this is especially for people who don't believe in bitcoin.
As for people who have started receiving bitcoins, they must have made an investment, especially when bitcoin is worth buying at a price that is not too high, so the use of bitcoin investment will proceed according to a gradual purchase (scheme).
This is directly related to how to enter the market, generally everyone will take part when bitcoin starts to fall. Fluctuations always make people panic, especially if they take the wrong step when buying, then that's when they panic and take inappropriate action, and it is because of this condition that people say bitcoin is a scam and cannot maintain the value of investment (those who don't understand investment) .
It is very easy to see the pattern of people buying bitcoins in large quantities and buying in small quantities, most of these two people buy more often when the price goes down, although there are also those who buy when the price goes up, because of the use of additional purchases, sometimes it takes the right time to enter market.
However, as you said, that method, pattern and incremental buying depends on each individual, where lies comfort when starting to enter the market.

Sometimes the method is very much determined by the way someone determines the strategy, while the benefits are the result of a strategic process that involves infrastructure and dares to get out of the comfort zone.
And maybe this choice will be based on previous experience, or it could be that people will continue to develop, when initially having problems in investing.
Don't really know and not really sure.

Sometimes talking about the law is too slow for us to start something, although it is also not recommended to violate it, let alone talking about laws that are unfair to certain circles, this kind of approach is sometimes very difficult to understand.
But bitcoin doesn't necessarily get rid of traditional systems where humans still make possible rules, but it doesn't eliminate the basic philosophy of early creation, and it's possible to compromise.

Fair enough.  I realize that sometimes we will express our BTC buy/sell conditions, our BTC accumulation and/or our BTC portfolio management practices in ways that might not capture the totality of what we are doing, and since we are in a public thread, sometimes we might need to flesh out some of the areas in which their might either be confusion or the message might be read in ways that had not been intended.  

For sure, I had considered myself to be in BTC accumulation stages in my first several years while I was in bitcoin between late 2013 and late 2016 - largely because it was ambiguous at best regarding how much my BTC holdings were in profits, because I bought my first BTC at prices that were well over $1k, but then throughout 2014 and even into 2015 the BTC prices largely went down and stayed down, and even when the BTC price seemed to start to go up in late 2015 and more slowly there was a decent amount of ambiguity regarding my own BTC portfolio and its costs.  I even had a sims card porting and hacking incident in early 2017 that likely caused me some additional prolonged concerns regarding how comfortable I could be regarding the level of my BTC portfolio profitability... so even if my earlier BTC buying prices in late 2013 and maybe even into early 2014 were in the $1k-ish price territory, and even though I continued to buy BTC as the BTC was dropping through 2014 and while BTC prices were in the slumps in 2015, my average cost per BTC was coming down, but the incidents and my own BTC portfolio management likely caused my average BTC price to drop down to $500 and then even go below $500 but then raise back up above $700 and maybe even at some point, I just started to feel better to consider my average cost per BTC to be around $1k.

Part of my point is that the more profitable our BTC holdings might end up being, the more likely that anyone of us might start to feel that we have more options in regards to whether to sell BTC at any price - because we are largely in profits anyhow.. versus during times in which we either might be more in a BTC accumulation stage and also feeling more like we have not necessarily accumulated enough BTC, so any time that we might sell some of our BTC, we might feel somewhat compelled to replace (within a reasonably short period of time) whatever quantity of BTC that we had sold.

So in that regard, we likely have more flexibility regarding whether to sell any of our BTC when we are further in profits and also if we feel (calculate) that we have largely met our surpassed our target BTC accumulation levels, which our BTC accumulation target levels should be somewhat tailored to our own personal financial and psychological circumstances.


My main issue is that bitcoin's reaching another ATH is not guaranteed. We can proclaim that it is highly probable or even that BTC is amongst the best (if not "the best") of investments currently available (and widely available to anyone) that has ever existed - yet even if we present with such optimism regarding how great of an investment bitcoin is, bitcoin is still not guaranteed to even be higher in price tomorrow than it is today, let alone reaching ATH again, let alone reaching $100ks of value or even $millions of value, as is also quite probable to happen.. still not guaranteed, even though bitcoin remains amongst the best of investments available to anyone currently as I type this post..


"inevitable" = "guaranteed"

those two words mean pretty damned close to the same thing, and from my perspective, one of the things that is pretty damned close to "inevitable" in bitcoin is that its price is going to be considerably volatile, and we are not necessarily going to to know which direction... especially in the short term.

I still believe that it is not good to proclaim that it is "inevitable" that the BTC price is going to go up, even though I believe that it is amongst the best (if not "the best") of investments, so it is highly likely to have greater prices in the future as compared to its prices today.. especially if looking at 4-10 years or longer into the future.


I agree with everything you say, but it still does not mean to put 100% into bitcoin, and if BTC's very strong investment thesis ends up playing out, we do not even have to have a lot into bitcoin in order to have potentials to profit stupendously... but we still have to have some prudence in our BTC allocation regarding the extent to which we might want to be aggressive in our BTC allocation without becoming overly aggressive in terms of allocating too much or even believing that BTC is "a done deal."


I don't really disagree with anything you say here...., and if we have concluded that bitcoin has a strong investment thesis, then we can create our own BTC accumulation target level that aligns with our own particular personal circumstances, so depending on our budget, it could take us 4-10 years or longer just to start to get close to our allocation target levels... Of course, if we are already an experienced investor, we may have already spent many years building our investment portfolio, then if we come to the conclusion that we want a percentage of our investment portfolio to be allocated to bitcoin, whether that is 1% to 25% or some other allocation level that we feel comfortable, we may well have the option to reach our target level more quickly than someone who is newly investing and has not already built an investment portfolio - even though sometimes even experienced investors might not like to sell one asset and buy another so instead of selling any of their other investments, they might just start to allocate new money towards bitcoin until they reach their BTC accumulation goals, which also could take a year or two or even longer to reach.  


 The dollar has never really been a great place to hold a lot of value, even though many investment advisors or even managers of funds are mandated to keep a certain percentage of their holdings in dollars (or dollar equivalents), even though individuals do not have such mandates - but there can still be some prudence in keeping a certain amount of value in dollars - even though probably nothing even close to the amounts that investment fund managers are required to keep... These days they are almost mandated to lose money... except sometimes the dollar will do better in the short term.. such as the last year, the dollar did better than bitcoin and other assets - especially looking at the last 6 months or so.

Never that I will go towards this , I am a person that does not love or by any chance wanted to borrow Unless super emergency or badly needed.
My entire living lies on how much I earn and how much I wanna spend , investing in BITCOIN is solely I believe that will save me and my family in the future , maybe people does not see this now but in the long term when the adoption totally happens ? for sure they will feel the loss but nothing that they can do so "Invest in Bitcoin" that's it.

Thanks for sharing this mate , really worth a read.

Psychologically, everyone is always optimistic about thier bitcoin investment not to be a wasted efforts especially whenever there's high shift in volatility, the panic here and there that during the dip bitcoin continue to loose value to zero and others, but just as you've said, if you are already into this for long then it should mean nothing than sitting down to olan and prepare ahead, few weeks back it had been said yhat bitcoin is going down but today here we are in it again still standing and holding our assets with it, there will always be arise after a short fall with bitcoin price.

that is always what I tell everyone. one Bitcoin will always be one Bitcoin. thta is to basically say that if you haven't bougth into Bitcoin, you are already losing. while one bitcoin will always be one Bitcoin, its sheer value will always increase, so it is better to have bitcoin than to have money in the Bank

Yup, and it's really okay to take some setbacks because we cannot be physically and mentally ready all the time as we don't know what will happen down the road. What we're holding might collapse or might set another ATH, we really don't know but the important thing is that we know that bitcoin will always recover no matter how rock bottom it is. Just hodl fellas, we're getting there soon!

But there is always the possibility that the 1 bitcoin you bought for $20K today becomes $15K in the future or maybe $100K. You should never ignore the possibility of a two direction market regardless of how you treat bitcoin. The average trader will not think 1 bitcoin is 1 bitcoin, but they will count it with fiat as the reason why they trade.

In the market you don't lose bitcoin if you don't sell at loss, but you will see its value fluctuate all the time. The basic principle is true that 1 bitcoin is 1 bitcoin, but if you are not an adopter of bitcoin as currency, then 1 bitcoin is $$$$.

that is always what I tell everyone. one Bitcoin will always be one Bitcoin. thta is to basically say that if you haven't bougth into Bitcoin, you are already losing. while one bitcoin will always be one Bitcoin, its sheer value will always increase, so it is better to have bitcoin than to have money in the Bank!

8 years is a really long time, unexpected and expected events will happen. However, I think that all of these predictions of high prices may not come true because, as we saw when Corona, bitcoin experienced a severe crash. I sincerely hope that this won't occur again.

Gone are the days when people could look into their wallets and see how much money they had, now is the best time to hold the bitcoin you need, the search for a single bitcoin will become extremely difficult for new investors, holding a single bitcoin will be a thing of the past, and sats will probably be a new thing to talk about, which is why I believe now is the best time to hold the bitcoin you need.

That is correct, but many people just jump into crypto trading, not Bitcoin specifically, and they came in unprepared, so if they have some disappointing results as a result of trading their shitcoins, they now blame the people who introduced them to cryptocurrency.
Bitcoin is always the best solution, followed by other Altcoins; however, if you have invested in Bitcoin, you will be safe and have enough time to research other projects that will yield them more profit. That is why it is important to relax and prepare thoroughly, both financially and mentally.

Of course there are no guarantees regarding how things will play out in 8 years, yet there are ways to both establish and to follow pro-active strategies that are tailored to having some stake in the bitcoin game (as an investment) rather than waiting to see or even getting all worked about trying to figure out what will happen and what won't.

Let's say that some hypothetical person is in his/her early 30s, has already established an investment portfolio that has about $50k in traditional investments.. but zero bitcoin.  If the person has $3k to $4k of cashflow every month, and an ability to invest $600 to $1.2k (average $900) every month, then where is s/he going to put that investment money?  Put it into his/her investment portfolio, put it into bitcoin, or combine such tactics in order to have some money invested in each area?

Prior to March 2020, I used to suggest 1% to 10% of an investment portfolio should be in bitcoin, but after March 2020, I have started to suggest 1% to 25% into bitcoin - not zero%.  So if you are somewhat whimpy about it, then just invest 1% into bitcoin, and if you are more aggressive invest towards the upper end of the range.  So the hypothetical person with the current $50k investment portfolio would have been able to invest an additional $86,400 over the next 8 years (that is $900 per mo x 8 years, x 12 months per year),  so where is s/he going to put that money?  If the investment does not gain in value, s/he would still end up with $136,400 after the next 8 years.. so the BIG question is how much of that should be in bitcoin?  1%, 25%, some amount in the middle or some amount out of the range?   Hopefully our hypothetical person (and real persons) are getting off of zero, getting some stake in the game - if they are whimpy then merely investing 1% may well be enough for them, and if they are more assertive, I don't see any reason to go beyond investing 25% of their portfolio new investment into bitcoin - even though in the very beginning maybe all of the new investment cashflow would go into bitcoin in order to get up to reaching the target investment percentage amount.

So, ultimately reaching a target investment amount is one thing, and then once reaching such target investment amount, then maintaining it and/or figuring out how to manage new money coming in (how much to put to bitcoin and how much to put towards other investments) is another thing.  And, another consideration is if the bitcoin grows disproportionately in comparison to other parts of the investment portfolio, there will be questions about whether to reallocate or to let the winners ride (presuming that bitcoin may well have decently good chances to outperform other portions of the investment portfolio (which historically has been true in bitcoin, but ongoing bitcoin outperformance is not guaranteed - even though it has worked out vary well historically). 

Each person has to decide for themselves the extent to which they may well want to be reallocating their bitcoin once they get to higher value levels, but if they don't have any bitcoin, or they do not have very many bitcoin, then they don't need to resolve that problem... so the first thing is to get some bitcoin and to figure that part out first  and the maintenance of your portfolio will become more clear and concrete once you have established a decent stash of bitcoin - rather than talking in the hypothetical when  you still don't have much of any.  Another thing is making sure that you do not lose your bitcoin, as you are building it up, so having good storage and/or good practices so you do not lose your bitcoin.

For sure, there are a lot of considerations to mentally prepare yourself in regards to 1) accumulating your bitcoin, then 2) maintaining your bitcoin and hopefully 3) getting to a place where you have a sufficiently large enough quantity of bitcoin (and the value has gone up) in order that you will have the "good problem to have" of spending your bitcoin.

If you invest in crypto currency then you definitely need skills. Because market relations are not experienced by new people because they are at risk when new people come here to invest will go Because they will continue to invest directly without doing market research then if anything goes down from the investment part they will blame cryptocurrency. That's why newbies should invest by researching the market and gaining expertise.

Of course everyone invests by considering the market and Crypto Currency you will definitely benefit if you invest by mastering the market. Of course you need to know about the Cryptocurrency market have to stay

You are truly lost if you are investing in cryptocurrency.  I would not do that.   Fuck that shit.

First you have to learn what is bitcoin, and learn about bitcoin.  Invest in bitcoin, and even investing into bitcoin is not necessarily easy, because one of the first steps is to learn and get clear about yourself and your own financial circumstances. 

All of the information to learn about yourself and your financial circumstances should already be available, but each of us still needs to be able to understand (and perhaps organize) that information that we have right in front of us.

So the level of skills that we need should not really be very high, except just managing your budget, figuring out your cashflow and then investing within the parameters of your cashflow, and one of the best beginner practices is to dollar cost average, and even a beginner person should be able to start dollar cost averaging into bitcoin right away.

Let's say that we have a no coiner who is new to bitcoin, and wants to get started investing into bitcoin, and even the person who has the most messed up of lives with bad financial organizing and maybe even a messed up life in terms of having too many things going on.. even those unorganized people will still likely have some ballpark ideas about how much money they have coming in and how many expenses they have.

So any person might be able to get started buying bitcoin in a dollar cost averaging way at about $10 per week, and then maybe take one to two months to get their lives organized in order to figure out if they might be able to increase their way of investing into bitcoin and to figure out their plans in regards to bitcoin in terms of what their BTC accumulation goals might be.

Accordingly, there is a need to spend some time to figure out individual and personal details such as: cashflow, other investments, view of bitcoin as compared with other investments, timeline, risk tolerance, and time, skills, goals (investment/lifestyle targets) and abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.

I am not going to suggest that figuring out these kinds of personal details should really be out of grasp of anyone, but each of us can learn them better when we put them into practice and we are consciously attempting to pay attention to them and to attempt to invest in accordance with these kinds of principles that any of us should be able to figure out in terms of how they apply to our own individual circumstances.


I don't know about all of that.  I have my doubts about whether there are needs to gain high levels of expertise, especially if we focus on bitcoin rather than getting caught up in shitcoin and bullshit conceptual frameworks like "cryptocurrency."  What the fuck is cryptocurrency?  I have been in bitcoin for nearly 9 years, and I have hardly any clue when people talk about crypto, unless they describe what they are talking about within a context of what particular shitcoin or complicated thing are you referring to?  I would say don't waste your time learning about all the bullshit because it will be as confusing and complicated as you say it is... and bitcoin is complicated enough.

In other words, just start out by learning about bitcoin, then that will take out a lot of the needs to try to be some kind of expert or to spend hundreds of hours or more studying all kinds of meaningless crap, such as shitcoins or even trying to understand what is "crypto".

Accordingly, each of us should be able to consider how much we want to accumulate and our various strategies around bitcoin in such a way that we do not necessarily need to know or to try to figure out short term BTC price movements.. so in that regard, we would be investing long term strategies with a kind of preparation and expectation that the BTC price will be going up in the longer term - even though we also recognize and appreciate that the BTC price is NOT guaranteed to go up.


It seems that the main thing is to get your bitcoin strategy down and attempt to learn about bitcoin first, and maybe after you get a pretty decent grasp on bitcoin and getting your bitcoin strategy in a decent place, then after that, you might screw around learning about other "crypto" projects.  Sure, I doubt that shitcoins and the various scams are going away, yet it still seems to be amongst the better of practices to focus on bitcoin first and even try using the word bitcoin when you talk about these matters in order that you can improve your communication skills on the topic, because I doubt that you even know what you are talking about if you are unable to figure out why you want to use the term "crypto" if you were talking about bitcoin, and if you are considering buying various shitcoins and getting involved in that nonsense, then it would be better to specify which ones you are considering getting involved in and what is your investment thesis into those, and what is your comparison going to be?  Your comparison should be bitcoin because if you do not know how to compare bitcoin to whatever shitcoin project you are considering, then you would be floating in some kind of lalaland without a reference (and maybe say "hi" to Vitalik and some of those dweebs when you are out there in fantasy land)..

I agree with you too much, mainly because I have a young friend by my side. Because of the failure of the business, he wanted to make money faster and entered the cryptocurrency world decisively. Now the whole person is mentally broken. For me, I have no way to help him, he has lost reason and the most correct judgment.