How was your belief formed?

[bangjoe]

I am often considered crazy by friends around me who invest in stocks, bonds and real estate, they always laugh at me when we discuss portfolios and investment opportunities. Maybe some of us (on this forum) also have the same fate as always being ridiculed when talking about investing in bitcoin.
Maybe they still lack knowledge about Bitcoin, and don't know how the pattern of cycles is, so they close themselves not to investing in Bitcoin, and on average they say that Bitcoin is an investment based on speculation so that fluctuations occur, but my logic rejects this because stocks and real estate can also be influenced by speculation.

I may not be someone who has been investing in bitcoin for a long time but my confidence started to form when I often read Bitcoin cycles and I witnessed the cycle always repeating itself which is the basis for me to dare to invest in Bitcoin, my belief is getting stronger after reading this thread...

Yes... 0.1 BTC should be a very reachable goal.. even for a brand new bitcoiner.

Surely over the years many of us have proclaimed that it should be a goal to try to attain as many bitcoin as you are able to without overly extending yourself or to put yourself into stress.

So I recall that in the 2013 to 2016 time frame, a common goal seemed to be to attempt to try to accumulate something like 100 or more bitcoins.

It seems that the 2017 to 2020 time frame, a common goal was to attempt to try to accumulate something like 21 or more bitcoins.

Maybe the 2021 to 2024 time frame, a common goal will be to attempt to try to accumulate more than 1 bitcoins... and of course, some people might not be able to reach more than 1 bitcoin in their accumulation, so they accumulate as much as they can, and even the actual accumulation of 0.1 BTC will provide a lot of prosperity in the future, and surely if any of us has amounts of bitcoin that are between 0.1 BTC and 1 BTC, then the amounts above 0.1BTC may well end up being cushion.. or perhaps being a USD millionaire in terms of bitcoin might not be enough in 5-10 years, and therefore it is better to have a cushion and if we are able to accumulate more than 0.5 BTC, then we may well end up having more than 5 million in USD value in terms of our bitcoin holdings, and perhaps that might be sufficiently and adequately enough for a lot of us to live a quite great life down the road.. 5-10 years down the road or maybe our targeted timeline might be further out than 10 years?

There is always an increase in the price of every Bearis cycle every 4 years which makes it more difficult for people to collect Bitcoin because the prices are increasing as well as the lowest point, even in a Bearish state, as you said the target for collecting Bitcoin is decreasing (100-21-3) This target shows the proof.
I think we should not be oriented towards owning hundreds of BTC, owning 0.5 Bitcoins as you said is most likely to become a millionaire in the future.

If ATH is formed again in 2024 or 2025 I think there will be 10 times more people adopting bitcoin and learning about it than today (or maybe even more than 10X) and I would really like to laugh at my friend who insulted me.

I thought I would like to know how your trust process builds up in investing your money in bitcoins?

[jackg]

Quite a few of my friends and family used to do the same when I started investing in crypto when it was ~$200, the ones that have actually tracked it since then (or have a reddit account) no longer feel the same and normally try to change the subject when it gets  brought up...

Whether we'll do 100x or even 10x in the next decade again will be something we'll have to wait on and watch but I don't think those same people calling it a scam, bubble or ponzi will be quite so loud if it does. As always, diversification can't hurt and it might be a good idea to invest in other things (stocks seem a useful way to learn self control because they can also drop when you initially invest in them like bitcoin might).

[dothebeats]

I started reading in 2013, never really fully involved back until April 2014 when I created this forum account. All I ever thought about bitcoin was this magic internet meme money that no one will really take seriously. The deal was sealed when I experienced my first bull run back in 2016, after buying for 2 years at prices ranging from $180 to $300. That climb to ATH ($1300) before climbing back down to $700 was ecstatic, and since then I started believing that bitcoin could give an insane value to your investments if you timed and bought at the right moment - or even just averaged your buys if the price is too high.

Fast forward to 2023, I now have some investments in VUL, some stocks, and some gold, but the bulk of my investments remain to be in bitcoin and crypto. I kinda laid low in buying due to some urgent financial responsibilities, but I remain to be a bitcoin believer to the core. Even some friends are already asking me to teach them how to invest, and I gladly help them and give them the knowledge I have whenever they have questions that they need some answers with.

[Baofeng]

I'm one of those who really 'should' have gotten into bitcoin as early as 2011 when I saw and read an article about Satoshi and his invention. But I didn't believed it then, fast forward to 2017 when someone reintroduced it to me, and I remember it too well. And now I also regret my decision not believing on it. But in 2017, it was not too late as I research about it and then later that year experience that huge run, all time high and that's how my belief was form. And after that, the learning curve, another bear/bull cycle experience, another lessons learn. Yeah, I think 0.1 is achievable even by beginners. Again as I have said in other threads, it's the mentality and the patience that will bring you to this goal in bitcoin investment, continue to save and stack sats in whichever way you can.

[uneng]

I formed my belief based in Bitcoin's progress along the years. There is also the theorical part, but a theory is nothing if it doesn't work for real, and in Bitcoin's case it has really worked on practice, as we can clearly see the digital currency's potential on long term since the beginning. Now my belief is based not only in history, but also on the characteristics which are exclusive of BTC in crypto market: it's the first original crypto among all, truly decentralized, creator didn't want personal status and popularity for himself, remaining anonymous, limited and scarce supply.

[mk4]

In my case, it's a lot less about halvings and scarcity and stuff — it's a lot more because of ideology. The importance of Bitcoin clicked in my head when PayPal banned my account and stole my money(for "damages", apparently) for no reason besides them being skeptical.

[Wexnident]

Time I guess? I already invested a bit right before the pandemic hit, luckily before the crash back then I pulled out before it halved my money, and refused to believe that it'd ever go back up again after that. Time slapped me a few months later (or was it a year? Don't really recall), so after that, I tried dabbling into trading, didn't do well (badly tbf), so I just waited for timing where Bitcoin was really down the red so that I can enter relatively safer. Was around $30k back then iirc.

[maydna]

Others have scorned me for investing in bitcoin, but I didn't think about it because our paths are different. We have to focus on what we choose and keep trying. The target of how many BTC we want to get will be each target because we definitely have different targets.

My trust process continues to increase after learning about bitcoin's journey over time, especially when bitcoin experienced an increase that I could not imagine before, namely when the price could reach $ 20k. That's when I felt bitcoin could go up so high, and I can't imagine it anymore. And it was proven when the price could touch $ 69k, and for the next ATH, I can't imagine the highest price because it could be above $ 100k.

[hatshepsut93]

I thought I would like to know how your trust process builds up in investing your money in bitcoins?

I began my Bitcoin journey in 2016 when Bitcoin entered a bullish phase, seeing my money increase by 50% in a few weeks made me very enthusiastic about Bitcoin, I immediately started believing that it's the future of money, it will replace banks and fiat currency and so on.

Then with years I started thinking about Bitcoin and its state more carefully, I realized that it is rarely used as a currency, so I started thinking about it more as a digital gold, a safe haven, a hedge against inflation. Then the covid times came and subsequent turmoil in global economy, and Bitcoin in my eyes failed the test.

I still hold a lot of Bitcoin because I think the bull/bear cycles will continue and it's possible to make a good profit from them, but I'm not emotionally attached to Bitcoin to HODL it no matter what.

[JoyMarsha]

Many people still believe that bitcoin is a scam because of their experience with it. I know how many times I have advised my friends to invest in bitcoin, and they refused. They keep telling me how they invested it before through someone and they lose their money. I was letting them know that you can lose your money in bitcoin if you have your private key with you(I don't think they have it anyway)

I think the most reason why people tend not to invest in bitcoin might be due to lack of exposure to how to keep their assets safe, not understanding the volatile nature of the market, and not being patient enough. Majority thinks that bitcoin is a get-rich scheme

[ajiz138]

Because of the lack of knowledge about bitcoin, they always isolate bitcoin or people who invest here, so it's not surprising that at first I was the same but after giving them directions about bitcoin and its functions they now understand so they don't make fun of investment anymore, I prefer them aware of bitcoin because we know that in the future this development will be more rapid, the price can soar beyond measure.

My belief was formed because at the beginning of the year (in the past) I recognized bitcoin, so here I am more focused, we already know how bitcoin has had a good cycle so far, even about other speculation, I think it is considered normal, how we have experienced profits of more than 10x so here I am now more focused on investing in bitcoin with the DCA method, I remember the word that later a piece of bitcoin will be more valuable.
Convince you about bitcoin basically this asset will be more important than any bad thing.

[buwaytress]

Maybe not so much investment for me as a means of money. Working in a new country every year or couple of years for most of my adult life. And coming from a non-Western country, the ease of digital payments is taken for granted by most people. Myself included.

Bitcoin solved a lot of banking and money issues for me. Also started saving in Bitcoin, more of an experiment than anything but grew more convinced by its security and failsafes (it could never be taken from me).

The evidence for that, even the understanding of, came later.

Price is nice to behold of course. But the confidence that it is always there, always available, always accessible, always safe. That is the belief that keeps me here.

[kamvreto]

~snip~If ATH is formed again in 2024 or 2025 I think there will be 10 times more people adopting bitcoin and learning about it than today (or maybe even more than 10X) and I would really like to laugh at my friend who insulted me.

When a new ATH is reached, of course it will be extraordinary FOMO. Beginners flocked to enter and buy bitcoin at a high enough price to push bitcoin to its highest price. Maybe the dominance of bitcoin will be even greater. People are also starting to learn about bitcoin and people around the world are going to talk about bitcoin. But regarding adoption, it depends on each country because it is constrained by different regulations in each country.
People who have never entered and don't want to get to know bitcoin, of course they will lose, because the potential for bitcoin is still very large. If you have 0.1 Bitcoin at the moment, in the future when the new ATH is reached you will get many times the profit.

[Ojima-ojo]

To this point, we still have a lot of forks who still believe bitcoin to be some form of gambling money and there is no certainty if and when it could amount to anything or a possible crash to zero price zone.

This type of mindset has clouded many potential investor mindsets and this has been their major drawback from adopting bitcoin, but with time and adequate knowledge,  that mindset could change in them.

I think the problem with those classes of people is that there is nothing to motivate them why because they never attempt to learn the many possibilities with Bitcoin.

[AmoreJaz]

To this point, we still have a lot of forks who still believe bitcoin to be some form of gambling money and there is no certainty if and when it could amount to anything or a possible crash to zero price zone.

This type of mindset has clouded many potential investor mindsets and this has been their major drawback from adopting bitcoin, but with time and adequate knowledge,  that mindset could change in them.

I think the problem with those classes of people is that there is nothing to motivate them why because they never attempt to learn the many possibilities with Bitcoin.

it is their loss if they won't be open mind with btc or with this market. let them think what they think and mind your own business.

@OP, do what you think best for your financial portfolio. your friends can insult all they want but still continue what you think will be beneficial for your financials. and when the time comes that you reap your rewards, don't mock your friends (or maybe you can say - i told you so in a light manner. lol)
as you have strong belief in this market, use it to your own advantage. no need to worry about anybody else, they have their own disposition in life.

[Hamphser]

To this point, we still have a lot of forks who still believe bitcoin to be some form of gambling money and there is no certainty if and when it could amount to anything or a possible crash to zero price zone.

This type of mindset has clouded many potential investor mindsets and this has been their major drawback from adopting bitcoin, but with time and adequate knowledge,  that mindset could change in them.

I think the problem with those classes of people is that there is nothing to motivate them why because they never attempt to learn the many possibilities with Bitcoin.

it is their loss if they won't be open mind with btc or with this market. let them think what they think and mind your own business.

@OP, do what you think best for your financial portfolio. your friends can insult all they want but still continue what you think will be beneficial for your financials. and when the time comes that you reap your rewards, don't mock your friends (or maybe you can say - i told you so in a light manner. lol)
as you have strong belief in this market, use it to your own advantage. no need to worry about anybody else, they have their own disposition in life.

This is what im actually doing on which im not really minding on what other people around me would really be saying or its better for you to be silent on whatever things that you are dealing with.If you do get some

sort of teasing and telling that it is an investment which it isnt worth or something dangerous or the worst telling it as a scam then its better not to mind them and just move on on what you are currently doing.
They would really be changing up those thoughts on the time that they would be seeing that you had just progressed your lifestyle which is something that shows a solid prove out on what you are dealing.
Dont let other people do dwindle up on things that you do believe.Just stay focus which you do seem is right, because if you wont really be putting up risk then there's no way you could gain up.

[GeorgeJohn]

Let me give my own instant in this your point. Investment of any kind is base on your ability to understand exactly the kind of investment that favors you, Bitcoin investment is not everyone and it's everyone that is lucky to run such investment and prosper on it, i will strictly advice anyone to join or venture into invest that will be favorable and well understandable to the person exactly.

[STT]

Ideally you dont bet it all on black, have a diverse strategy as we all know BTC is a volatile asset even while its frequently and repeatedly been high growth.  Pull-backs can be extreme, I wouldn't encourage anyone to rely purely on BTC as that could be a harsh burden under pull-back in the sector this can be years in its effect.  Obviously its best to avoid selling in the lows but people need cash so that too is a reason to stick with multiple asset types.
  Its not uncommon to mock people, I dont know anyone especially who would praise attempts to invest as most just think of pension or similar investment handled at arms length by professionals only.   That would exclude high growth and ideas of high risk speculation or investment.

[lixer]

I thought I would like to know how your trust process builds up in investing your money in bitcoins?

I began my Bitcoin journey in 2016 when Bitcoin entered a bullish phase, seeing my money increase by 50% in a few weeks made me very enthusiastic about Bitcoin, I immediately started believing that it's the future of money, it will replace banks and fiat currency and so on.

Then with years I started thinking about Bitcoin and its state more carefully, I realized that it is rarely used as a currency, so I started thinking about it more as a digital gold, a safe haven, a hedge against inflation. Then the covid times came and subsequent turmoil in global economy, and Bitcoin in my eyes failed the test.

I still hold a lot of Bitcoin because I think the bull/bear cycles will continue and it's possible to make a good profit from them, but I'm not emotionally attached to Bitcoin to HODL it no matter what.

This is what a typical noob in crypto look like. They easily get attracted after hearing/seeing that the price of Bitcoin is rising fast but unfortunately by the time they enter the value of BTC will eventually go down. They will rattle and sell and call it a scam lol but I salute those who stay and congrats to them because they likely recover their losses now after building up some experience and knowledge about how this BTC or this market works.

It was before when people rarely use their BTC as a currency because there are less people who know it and then it is less recognized by the government but now the scene has change. BTC now is being use like a regular money.

[michellee]

It's okay @OP if your friends belittle you because you invest in bitcoin and do not follow what they do. Many people still underestimate the potential profit they can get from bitcoin, so they don't want to open themselves up to receive something that can be useful for them in the future.

You have to continue your actions and not be influenced by what they say because we choose what we believe. Don't let their words make you feel inferior and insecure. In the end, you will decide to quit. They will see how your profits will increase enormously when the bitcoin cycle is back and starts its long rally to make new ATH again. At that time, your friends will see the potential of bitcoin for them but it's too late for them to start because the price is already very high later.