Bitcoin Accumulation Isn't a Competition, Focus on Your Own Journey

[PhilosopherKing]

When it comes to investment in Bitcoin is an individual decision,I could remember when I heard about Bitcoin and wanting to invest it too me time to make a decision, on it,and when I was ready it was my extra funds have saved I used in investing so if anything go wrong I won't feel bad.so you in no competition with anyone,you are the one working for your money so you are best to no what is coming in and going out to no when to make your decisions.

In today's society, most new investors always want to be like those ahed of them who have afcumulated  a lot of Bitcoin, having that mentality is not bad, but even as we want to be like others ahead of us we should also forget that those ahead of us at some point where in our level and through consistency in spirit built their position overtime. So even as we strive to be like other we shouldn't let it get to our head, that is we shouldn't start overstretching or enter into a self created competition. Always start and build within your pace.

[Localhostspeed]

When it comes to investment in Bitcoin is an individual decision,I could remember when I heard about Bitcoin and wanting to invest it too me time to make a decision, on it,and when I was ready it was my extra funds have saved I used in investing so if anything go wrong I won't feel bad.so you in no competition with anyone,you are the one working for your money so you are best to no what is coming in and going out to no when to make your decisions.

In today's society, most new investors always want to be like those ahed of them who have afcumulated  a lot of Bitcoin, having that mentality is not bad, but even as we want to be like others ahead of us we should also forget that those ahead of us at some point where in our level and through consistency in spirit built their position overtime. So even as we strive to be like other we shouldn't let it get to our head, that is we shouldn't start overstretching or enter into a self created competition. Always start and build within your pace.

I don't see a problem with this if you have the money but if you don't have the money to bear any short term unrealized loss, don't do like them. There is an investor somewhere that can overlook a million dollars and invest that on Bitcoin, wouldn't even care about the loss or any risk involved but there is me that will think twice if I have $100k and somebody tells me to use everything for Bitcoin, I maybe able to spare half of the amount but not all.

If you are going to make investment in Bitcoin, do it your own way and terms. Don't buy because someone told you but do it because you believe in it. The person that may convince you can have a change of mind and not want to buy Bitcoin again, there decisions can break you and not make you see the good sight of Bitcoin. If you have your own purpose, anything that is happening in the market will not move you at all.

[Stable090]

In today's society, most new investors always want to be like those ahed of them who have afcumulated  a lot of Bitcoin, having that mentality is not bad, but even as we want to be like others ahead of us we should also forget that those ahead of us at some point where in our level and through consistency in spirit built their position overtime.

The reason why some people do end up losing money when they invest in bitcoin is that, they are always desperate to invest in bitcoin, they don’t take their time to learn about bitcoin before investing in bitcoin, if you rush to invest without having proper knowledge about bitcoin, don’t be surprise that you might end up making mistake which you will be losing your money. If you are investing and you want to be like people that have been in the space for some time, then you should do that gradually, as you are investing, you should keep on learning. You shouldn’t just  compete with people that have been in space for some time, the knowledge which they have, you don’t have it, so if you are in rush, then you might end up making mistake at the end.

[Hypnosis00]

We all have different financial capacity in life, while others can easily maximize their accumulation, but those who are tight in budget might only buy a portion of bitcoin one at a time. And that's very fine as there's no competition in bitcoin accumulation. Buy at your own risk, and take time to sell when its highly needed, that's how simple it is and not to adopt competition in the market. Because if you do, you are just putting yourself in a more stressful and highly pressured scenario.

[Kasabus]

Those who sees bitcoin accumulation as a competition, maybe that's also what makes them more propel to keep investing. And there's no wrong with it if they can keep up with their risk tolerance. I know some people who's views and mindset are like that, and they're also successful in life. However, if you want no high pressures on your path, move on your own without minding others, the safest way to keep going.

Bitcoin is not for short term but most preferably for long-term, so you have all the chances and opportunities to take without creating a sense of competition in your mind.

[Kelward]

All fingers are not equal and comparing your Bitcoin stash with another investor can cause more harm than good so it's better that  everybody should only be in competition with oneself. You can challenge yourself to think out of the box and find new ways to increase your earnings so that you can have more money to channel into your discretionary funds. Your Bitcoin accumulation should be based on the size of your discretionary funds and how much you are willing to allocate for Bitcoin DCA method. Never make the mistake of using money for your basic expenses to buy Bitcoin so that you can meet up with those that buys with higher amounts, it will be an irresponsible investment strategy because you will sooner sell it prematurely to take care of your unavailable expenses.

[Stormisover]

No one is doing competition with you , you choose to pressure your by yourself the only competition btw yourself and no one else , when come to bitcoin . But you can be inspired by others wins and progress and use it as an instrument of growth and determination, that’s why I tell folk that you can start accumulating with any amount you can afford. No one is forcing anyone to go beyond their budget accumulate according to your convenient.  Because if you try to go faster with over aggressive buying you only ruin your investment too early .

Some forks are naturally competitive in nature they can consider everything to be a do or die to achieve certain achievements and that is very bad, everyone was not born in the same day and looking at our fingers they are not equal either, a man who attempts to carry a load that has a body mass much more than he has will only end up breaking down and some times beyond repair, it will give me joy and happiness seeing that am making am improvement in whatever am doing other than finding everything to be competitive, for Bitcoin it is one man one lane so you move at your own level it will only take discipline and time to reach your desired destination.

[Derekfunds]

Investing bitcoin the first thing to have in mind is to invest what you can afford to lose, if you go in with the mindset of just investing without any plans of fund of your ability, and you just want to invest to meet up with other people, it will surely become a failed investment if one is not careful. Investment is not a thing of competition, it is all about a thing of what you can afford. we all have our own financial strenght and if you exceed it , then it becomes impossible to keep investing.

The reason why some investments are failing is because they took it as a  competition and whenever they took investment as a competition they don't longer care the amount they are using to invest any more because all they can think of or all they want is just to invest more than the other person not knowing that there is danger in doing this especially when they are not investing from their discretionary income. Sometimes those people they are trying to compete with may have a good source of income that they won't get stranded some day regardless of the situation.

[sunsilk]

Everyone who invests have that goal to be rich and that cannot be removed from everyone's reason why we're doing it. But I agree that we're not investing to become better than someone else.

Stop with the competition mindset when this is an open market and the only one that we're competing is with ourselves. If we've done great with DCA, we're going to be noticed by anybody that doesn't have an idea on what we do.

Because, they'll start to be curious of what we're doing, and how we've made it when the results are becoming visible. Do not mind the other investors, and it's a real thing that we should only look with our own journey.

It's okay to look on someone's journey as an inspiration but not as a competition.

[Asuspawer09]

I mean i've never felt that investing is a some kind of competition, I guess sometimes I just felt a little jealous for some people, and even people that I know that earn huge amount on crpytocurrency or probably they just doing really really great when it comes to there investment, you see them doing good on cryptocurrency, business, stocks, real state, gold or even career. Most of the time I always tend to compare myself to a lot of people and ask myself what I did do wrong or ask why they are so lucky because at an early age they are able to do very well.

But yes, it was actually just the same thing, you just need to focus on your own goals, because we all have different lives, we have different positions, and have different timing on having our own time. It wasn't a competition at all, as long as you do focus on achiving your goal, it is going to pay off in the end. Investing and accumulating Bitcoin surely is going to pay off in the end, I personally experience it already from years of investing and doing DCA, it was surely difficult seeing the up and downs let alone buying every week, but that investment surely is gonna position you long term. I've been able to sell easily on 126k$ last time because of my focus on achieving my goal of selling a huge amount, and it was a lucky sell since it was the top before this drop.

So focus on your own journey, follow your strategy, invest, and wait for the right timing in the market. Everything is going to be easy if you take time to position in the market.

[Uhwuchukwu53]

Those who sees bitcoin accumulation as a competition, maybe that's also what makes them more propel to keep investing. And there's no wrong with it if they can keep up with their risk tolerance. I know some people who's views and mindset are like that, and they're also successful in life. However, if you want no high pressures on your path, move on your own without minding others, the safest way to keep going.

Bitcoin is not for short term but most preferably for long-term, so you have all the chances and opportunities to take without creating a sense of competition in your mind.

I will Fully agree with you , many are motivated and swayed into Bitcoin investment with what they see with others who invested in it and having the mindset of been like them. The key word just as you emphasize "risk telorance" is what whoever that is emulating or seeking to be like any other investor in Bitcoin should always weigh, because a shift in the system, one be able to withstand the pressure if he lack the principle the next person he emulate is using. The reason many may have the intention to hold Bitcoin for long ended up selling within a short term is competition without having the capacity to manage the risk as well knowledge on how the next investor they look upon is thriving.

[Fuso.hp]

Competition should be on talent, not on investment. Investing requires money, if another person has better financial support than me, then he will naturally be able to invest more money consistently and my investment will be limited depending on my money. Now if I think that another person is investing about 300 to 400 dollars every month, similarly I will have to invest 300 to 400 dollars, then I am moving forward with the wrong step towards investment. If my income is 300 to 400 dollars, then it is not possible for me to invest all my money every month. What is important to us is how much we can invest and how this investment can be made consistently for a long time, but we should look more seriously at how to do it consistently. Therefore, consistency should be the main objective of investment, not comparison or competition.

[Y3shot]

We all have different financial capacity in life, while others can easily maximize their accumulation, but those who are tight in budget might only buy a portion of bitcoin one at a time. And that's very fine as there's no competition in bitcoin accumulation. Buy at your own risk, and take time to sell when its highly needed, that's how simple it is and not to adopt competition in the market. Because if you do, you are just putting yourself in a more stressful and highly pressured scenario.

The truth is that once you make it seem like a competition you even make it more difficult and complicated for yourself. It is just like other investment,  trying to make it bigger when you dont have the financial strength,  it will just end up breaking you down. No matter what you and you invest in Bitcoin and if you are consistent in it, you will definitely make a good profit from it, so their is no need making it a competition when you cant even exceed your limit of what you can invest. I believe it is those who who dont understand bitcoin that will think of this, which will always not end up well.

[Versatile_choice]

Thank goodness you brought this discussion because some people seems to have forgotten that bitcoin investment is not like a football game where teams will be struggling to win the title, in bitcoin investment there's zero competition you can buy as much as you can if you have the capacity. But doing it for the sake of others is very wrong reason been that you don't know if the other person have a different cash flow to be buying aggressively you that doesn't have a good cash flow and have chosen to competite with him can decide to go in search of where you can take loan to invest which is very wrong. So as an investor it's advised to buy according to the size of your discretionary funds so as to avoid messing your Investment up some day.

[tvplus006]

Furthermore  to simply end the topic  the goal of investing should nnever be to be richer or truly to be better than someone....That's just it .take your time stay consistent, and focus on your own journey...

Each of us has different financial opportunities. Someone can afford to buy 1 BTC every month, while another, saving on everything, buys several hundred satoshi and at the same time remains satisfied with his purchase. So it's impossible to compete in such conditions.

[UchihaSarada]

Each of us has different financial opportunities. Someone can afford to buy 1 BTC every month, while another, saving on everything, buys several hundred satoshi and at the same time remains satisfied with his purchase. So it's impossible to compete in such conditions.

DCA and buy 1 bitcoin each month is impossible nowadays with normal people and it is only possible with billionaires or institutional investors. Fortunately, for our investment practice, we don't have to care about them as it is our money and our responsibility to invest it in bitcoin.

If we can DCA each monthly in a same long time like institutional investors, we will have almost similar ROI. Difference is only their profit is bigger than our as they have bigger initial investment capital than what we spent with smaller fund.

[Cookdata]

We all have different financial capacity in life, while others can easily maximize their accumulation, but those who are tight in budget might only buy a portion of bitcoin one at a time. And that's very fine as there's no competition in bitcoin accumulation. Buy at your own risk, and take time to sell when its highly needed, that's how simple it is and not to adopt competition in the market. Because if you do, you are just putting yourself in a more stressful and highly pressured scenario.

It's not a must that you should be like other people, I want the best for myself but it wouldn't be at extreme that I will start inconveniencing my life. If I can buy 10000 sats a week, I will keep doing, it will be more fun to be doing that than trying to buy 2x of my plan and when I have small financial responsibilities the next thing thag will come to your mind is trying to sell half of what you have bought, from there it becomes a norm that you begin to sell what you promised to hold.

Some people have made it the habit of buy high and sell low, I know a person that recently sold his bag at loss. He made some money and put the rest on Bitcoin, the commitment was a long promise but along the line, something came up, there was nobody to run upto and he sold it to take care of everything and promise to buy again, I know deeply he is not coming back or may be he will do as he promise, this are the issues of accumulation when you don't have back bone and you went in.

[Nwada001]

We just need to invest what we can afford and not compete with anyone out there. We are not on the same financial level, so we can't hold the same bitcoin volume. If there is anything I can see from others who hold large amounts of bitcoin, it is inspiration to hustle harder and make plans for my future to accumulate more, but I can't risk more than I can afford just because of someone who owns a lot.

[SuperBitMan]

We just need to invest what we can afford and not compete with anyone out there. We are not on the same financial level, so we can't hold the same bitcoin volume. If there is anything I can see from others who hold large amounts of bitcoin, it is inspiration to hustle harder and make plans for my future to accumulate more, but I can't risk more than I can afford just because of someone who owns a lot.

Yeah we just need to invest what we can invest, people that usually feel pressured are newbies, those that are new in Bitcoin investment they usually feel like they are backward and others are ahead of them so because of that they become aggressive in there Bitcoin investment so they can meet up with others which usually lead them to failing in there Bitcoin investment journey, one thing this newbies needs to understand is that those people they are seeing have been into Bitcoin investment for a very long time they didn't start today it's been long and as a newbie you can't be comparing yourself with them and wanting to have the same holding or Bitcoin they have, be inspired by them and not completing with anyone.

[JoyMarsha]

So far, it is a Bitcoin investment; nobody is in competition with anyone. Any investment made or to be made is one to decide how it is convenient for them to go about it. It is investing weekly, monthly, or investing at a go, that's the person's business to worry about. That makes it, whatever profits or losses they had, it's them it will go to, not anyone else