Wrong way to accumulate.

[pinggoki]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

It's wrong to set a limit to your bitcoin accumulation especially if you're not a rich person, if you're able to DCA to slowly accumulate your bitcoin, I don't see the point of stopping at some point especially if you can't really reach 1 bitcoin anytime soon, hell even at 1 bitcoin I don't think it's worth to stop accumulating because at this moment, you're racing against time when the next bullrun happens, you don't want to be stopping right now when in the next bullrun, the price floor couldn't ever become this low. Also, don't be spending your bitcoin when you don't have to, and don't buy bitcoin when you know you won't be paying the bills completely or be eating good this month, prioritize self-care over investment in bitcoin.

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[justdimin]

I think the basic thing there is that everyone must not follow the sequence how others should be, and for any investment the investor should know the risk associated with it and be able to manage it properly. Over sometime people do not look at the risk but rather centered their efforts on the profits aspect which actually makes them not to for long time, understanding the purpose of investment always helps in securing and safeguarding their investment without being haste to sell.

About the cushion, well as I think is another way to help your investment not to be altered since it's serving as a reserved fund. And however, anyone who doesn't invest through his income or basic income where then do they get their money to invest or to keep accumulation of their bitcoin, Yes I know and it's a valuable asset that doesn't need to be altered but sincerely speaking you need something reserved fund or cushion to help you allow your investment last longer than expected as the case maybe.

Not looking at the risk but looking at the profit possibility is the number one mistake any rookie could make. You have to realize that you are not going to end up making that type of profit, there is no need for that and you should be careful with what you are doing. If you are careful about it then we are going to end up with something much better in the end as well.

However, this isn't really anything that would be profitable neither, and I believe that we need to be considering the situation that would be profitable if you are taking a bigger risk than you should. Take as little risk as you possibly could on the biggest profit you could make with that little risk. Take a look at risk first, then take a look at profit possibility.

[Questat]

I think the basic thing there is that everyone must not follow the sequence how others should be, and for any investment the investor should know the risk associated with it and be able to manage it properly. Over sometime people do not look at the risk but rather centered their efforts on the profits aspect which actually makes them not to for long time, understanding the purpose of investment always helps in securing and safeguarding their investment without being haste to sell.

About the cushion, well as I think is another way to help your investment not to be altered since it's serving as a reserved fund. And however, anyone who doesn't invest through his income or basic income where then do they get their money to invest or to keep accumulation of their bitcoin, Yes I know and it's a valuable asset that doesn't need to be altered but sincerely speaking you need something reserved fund or cushion to help you allow your investment last longer than expected as the case maybe.

Not looking at the risk but looking at the profit possibility is the number one mistake any rookie could make. You have to realize that you are not going to end up making that type of profit, there is no need for that and you should be careful with what you are doing. If you are careful about it then we are going to end up with something much better in the end as well.

However, this isn't really anything that would be profitable neither, and I believe that we need to be considering the situation that would be profitable if you are taking a bigger risk than you should. Take as little risk as you possibly could on the biggest profit you could make with that little risk. Take a look at risk first, then take a look at profit possibility.

People had overthink about Bitcoin as they think that investing in here will guarantee huge profits but not knowing the huge risk that they are going to face after buying. Too late to realize but I believe this particular saying - learn from our mistakes. Though we don't want to commit mistakes but whether we like it or not, this really gonna happen to all of us.
I'd say that investing in Bitcoin is not wrong what it makes difficult to earn is due to the actions and the market responses that we made - usually we fall into wrong decisions that causes major losses and fail our goal.

[Taskford]

I think the basic thing there is that everyone must not follow the sequence how others should be, and for any investment the investor should know the risk associated with it and be able to manage it properly. Over sometime people do not look at the risk but rather centered their efforts on the profits aspect which actually makes them not to for long time, understanding the purpose of investment always helps in securing and safeguarding their investment without being haste to sell.

About the cushion, well as I think is another way to help your investment not to be altered since it's serving as a reserved fund. And however, anyone who doesn't invest through his income or basic income where then do they get their money to invest or to keep accumulation of their bitcoin, Yes I know and it's a valuable asset that doesn't need to be altered but sincerely speaking you need something reserved fund or cushion to help you allow your investment last longer than expected as the case maybe.

Not looking at the risk but looking at the profit possibility is the number one mistake any rookie could make. You have to realize that you are not going to end up making that type of profit, there is no need for that and you should be careful with what you are doing. If you are careful about it then we are going to end up with something much better in the end as well.

However, this isn't really anything that would be profitable neither, and I believe that we need to be considering the situation that would be profitable if you are taking a bigger risk than you should. Take as little risk as you possibly could on the biggest profit you could make with that little risk. Take a look at risk first, then take a look at profit possibility.

People had overthink about Bitcoin as they think that investing in here will guarantee huge profits but not knowing the huge risk that they are going to face after buying. Too late to realize but I believe this particular saying - learn from our mistakes. Though we don't want to commit mistakes but whether we like it or not, this really gonna happen to all of us.
I'd say that investing in Bitcoin is not wrong what it makes difficult to earn is due to the actions and the market responses that we made - usually we fall into wrong decisions that causes major losses and fail our goal.

Because that's what commonly they see and this is also introduce to them where if they invest on bitcoin they can possibly earn a lot of money there. Maybe it will be more better if people teaching bitcoin to other should correct the way the teach so that those newbie will not hope for easy rich scheme since commonly they are prone to commit trading mistakes or even get scam. We all prove that investing on bitcoin is not wrong its just it need proper study so that they can think more better when they try to accumulate.

[freedomgo]

People see bitcoin as a get rich quick tool especially if they have witnessed some friends who are into bitcoin and are now living their lives in luxury. Because of envy and greed, they start to accumulate bitcoin the wrong way believing that if they’ll just invest a small amount, their progress will take a lot of years. Eventually, by putting all their hard-earned money into bitcoin without prior research and studies, they end up losing all their money instead. That only proves that investing in bitcoin will never be profitable if you put pressure into it. Bitcoin investment can never guarantee profitability at all times, but if you follow the rules with knowledge and patience, and invest in it for no definite time or target, most likely you will reap positive results in the end.

[Ahli38]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

It's wrong to set a limit to your bitcoin accumulation especially if you're not a rich person, if you're able to DCA to slowly accumulate your bitcoin, I don't see the point of stopping at some point especially if you can't really reach 1 bitcoin anytime soon, hell even at 1 bitcoin I don't think it's worth to stop accumulating because at this moment, you're racing against time when the next bullrun happens, you don't want to be stopping right now when in the next bullrun, the price floor couldn't ever become this low. Also, don't be spending your bitcoin when you don't have to, and don't buy bitcoin when you know you won't be paying the bills completely or be eating good this month, prioritize self-care over investment in bitcoin.

I totally agree with what you said in this matter. Because investing in bitcoin for the long term must be done with full calculation and there is also no need to rush. We can accumulate slowly and little by little. And of course only use money that is ready if you have to lose. In the sense of cold money that will not be used in the long term. And cold money is usually the money left over after we have met all the necessities needed to support our daily lives. Accumulation with cold money will keep our mentality healthy and not disturbed at all. The point is we have to control ourselves and keep prioritizing the most important needs in our lives and only then invest in bitcoin.

[shivansps]

One of the most common opinions is that I started buying bitcoin late. A person begins to enter the race, invests more money than he can afford, this then leads to other mistakes.
I really liked the idea that you are never late for bitcoins. Every time will be right

[nelson4lov]

One of the most common opinions is that I started buying bitcoin late. A person begins to enter the race, invests more money than he can afford, this then leads to other mistakes.
I really liked the idea that you are never late for bitcoins. Every time will be right

I have the opinion that Bitcoin is still at its early stage despite a decade already gone as the technology is still new in most parts of the world especially areas that have been bounded by border-only payment networks. So I tend to think that anytime is a good time to get into Bitcoin and the crypto space as there would hyper growth in the coming years when the technology become the de-facto payment and storage of value system of the global financial system. Although the price might take downswing any other day but these are opportunities to acquire more and average down.

[WatChe]

People see bitcoin as a get rich quick tool especially if they have witnessed some friends who are into bitcoin and are now living their lives in luxury. Because of envy and greed, they start to accumulate bitcoin the wrong way believing that if they’ll just invest a small amount, their progress will take a lot of years. Eventually, by putting all their hard-earned money into bitcoin without prior research and studies, they end up losing all their money instead. That only proves that investing in bitcoin will never be profitable if you put pressure into it. Bitcoin investment can never guarantee profitability at all times, but if you follow the rules with knowledge and patience, and invest in it for no definite time or target, most likely you will reap positive results in the end.

There are people who jump into crypto after hearing success stories of there friends or people they know. If you are coming into crypto with mind set that you will buy Bitcoin and soon you will be rich then nothing can stop you from losing your money.

Investing in Bitcoin is no doubt a profitable strategy but there is a way to invest in. There are people whose capital is struck as they bought Bitcoin when its price is sky high. There are risks associated with every market and one must adhere to those risks before jumping into the market.

[pawel7777]

I have the opinion that Bitcoin is still at its early stage despite a decade already gone as the technology is still new in most parts of the world especially areas that have been bounded by border-only payment networks. So I tend to think that anytime is a good time to get into Bitcoin and the crypto space as there would hyper growth in the coming years when the technology become the de-facto payment and storage of value system of the global financial system. Although the price might take downswing any other day but these are opportunities to acquire more and average down.

I don't subscribe to the opinion that we're still in the "early adoption" phase. Bitcoin's global recognition rate is too high for that to be true. Pretty much every adult has heard of Bitcoin at least few times in their lives even if they haven't registered that (i.e. because they're not interested in finance/technology).
That's not to say BTC has no room to grow. I can easily envision a scenario when it surpasses gold in terms of marketcap, but times of it doing x100 in one cycle are probably gone for good.

[pawanjain]

Basically almost every bitcoiner is in for accumulation committing  certain amount of investment with a timeline to it. It could be for short term or long term plan.

Some investors starts with a short term in mind then later progresses to a long term arising from a reassessment on how they were unable to meet  up their planned portfolio target with the initial short term frame.
For it's healthy when people set an accumulation target in accordance to their financial strength, as doing otherwise by acting like you're in a competition with other investors you may end up uncontrollably investing all you  have got (what I term hyper-investment) with nothing left in hand to solve other pressing financial needs/demands putting yourself under pressure where you may have to alter the total amount you have invested, jeopardizing your plans.

You also risk investing beyond what you can afford to lose which is not what any wise bitcoin investor would do. Bitcoin accumulation is not supposed to be a stressing and self-pressured process but some persons doing it in that way thinking they had arrived late to bitcoin and have to meet up, but that's all a fallacy. With bitcoin you're never late, you only arrived at your right time.

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

What I think is that it is not people's fault that they invest more than their budget because it is bitcoin after all.
Bitcoin has created a reputation and trust that it is bound to achieve new heights in price which is the foremost reason why everyone wants to get their hands on it.
Even I have been trying to accumulate as much as I can and will continue the same. But you do have a point that sometimes over investing kills our goals instead of achieving it.
Sometimes we have to sell at the wrong time just because we don't have that emergency fund we should have since we used it in over investing in bitcoin.

[yazher]

When it comes to investment in bitcoins a simple step is recommended to follow especially when the money is not fully yours or you just borrowed it from your families and friends, then this kind of investment is not wise when you put everything to bitcoins because considering the movement of the price, it could be your worst nightmare if volatility will occur and they badly needed their money back from you.

[Emmanuelex]

It's always good to take it slow and steady. When I invest in Bitcoin I always have a target of what I would like to achieve and I don't really rush things or change plans no matter what happens next. So whatever plan I set, I always make sure to follow it through to the end. That's just it for me. If you try to rush or look at things that are happening in the market, sometimes you might just make a wrong move.

[karabiber]

The biggest mistake I have observed in my environment is greed while saving Bitcoin or any valuable asset. Let's say that the savings made while saving Bitcoin are bought at a good price and Bitcoin starts to gain value. Bitcoin continues to rise. So what do we do in this case? The key answer will be to be patient and stick to the plan but most people will then sell their savings.
Starting to act late can be one of the important mistakes made while saving. You may think that it is not time to buy for Bitcoin accumulation, but in fact, you are in the beginning of the bull market.

As Bitcoin rises, you stop buying and decide to buy at peaks. I would not say that the investment to be made after this part will be very profitable. In summary you should be patient when investing and you should not be late for anything. You should constantly follow the market and not miss the news feeds. Remember, this is a market that doesn't sleep 24/7.

[bussybuddy]

The reality is, many investors are often caught up in their emotions and are overly optimistic about Bitcoin's growth potential based on the past.

However, adopting a long-term investment model and treating Bitcoin as a special asset should not make us ignore the fact that the cryptocurrency market is highly volatile and can change rapidly. While learning from the past can be helpful, we also need to ask whether the situation might change in the future and whether new factors might influence trends.

[Bananington]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

The wrongest(I know there is no word like this) way I know people accumulate bitcoins is by robbing other people and ripping them off the bitcoins that they have kept, or making them buy bitcoins and send to them by deceiving these people. Scammers can get a huge amount of bitcoins in their keep from a successful scam they carry out on someone.

In a day, they can have more bitcoins than someone who has been gathering bitcoin for a long time. This is a really wrong way to get and accumulate bitcoins, people who do this deserve to face the law.

[Lida93]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

The wrongest(I know there is no word like this) way I know people accumulate bitcoins is by robbing other people and ripping them off the bitcoins that they have kept, or making them buy bitcoins and send to them by deceiving these people. Scammers can get a huge amount of bitcoins in their keep from a successful scam they carry out on someone.

In a day, they can have more bitcoins than someone who has been gathering bitcoin for a long time. This is a really wrong way to get and accumulate bitcoins, people who do this deserve to face the law.

It one of the worst way ever to gather bitcoin and there's no word to exactly punch it on in describing the behavior or actions. And people should be discouraged from accumulating bitcoin by illegal means. The psychological trauma and pains people go through when they had to lose their coins to scam or hackers who by way of brute force got their money stolen is something I wouldn't wish my enemy especially when it got to do with huge sum of money.

[fullhdpixel]

Every investor has a certain plan according to which they usually invest. Many people plan for long term investment and many people plan for short term investment and there are some investors who plan for long term investment but when the market increases more than their expectations they sell their investment ihow investors invest it totally depends on an investor. People who are more risk-averse in investing and have more money invested usually decide to invest for a longer period of time. Most of the investors invest with risk in the initial stage, but later due to market changes, they cannot hold their investment and sell their investment with some loss of money. Investors who can take the risk and hold Bitcoin through good and bad times ultimately succeed in investing.

The cryptocurrency market is basically not for people who don't have enough patience to hold onto their assets when there is a bad time because when you panic and sell your assets as soon as the market starts dipping, you can never get anything out of your investments because you will be losing more money than you will possibly get with that mindset. A person needs to have diamond hands to become a successful investor in the cryptocurrency market.

And, these kinds of people who can't control their urges to sell when the market dips a little bid basically become the reason for widening the dips and making them go deeper because they start panic selling which causes further declines in the market, and then a dip that could be a small one becomes bigger.

[mvdheuvel1983]

What are your own thoughts on wrong ways you think people follow in  bitcoin accumulation.

Do not be too motivated or excited to default on your strategy or plan in accumulation of bitcoin at whatever period you have planned. If you plan to invest $50 per week, the individual should stick to it even if something happens and they suddenly have a $100 that week. If you default on that plan for that week, you would mess it up for the rest of period and may become inconsistent in the amount you have decided to invest per week.

Drawing from the last analogy, do not neglect your basic and financial needs in a bid to accumulate bitcoin. It is the fastest way to become demotivated. Have a plan, a budget and stick to it.

[Cryptomultiplier]

For me BTC accumulation is more about have a right investment strategy or should I say savings strategy that would be maintained according to ones earnings, for a duration.
It is more like saving up crypto for future use. I don't think there is any wrong way to do it, except being too strict or stringent about that one fails to pay heed to other affairs of life.
Also, there may be the case of not knowing the right way to accumulate, in this case, a mentor or brokerage or broker is necessary so as not to loss all coins to ignorance.