Buy Buy Buy or Sell Sell Sell?

[GIF-JOBS]

It is not wrong to invest just because others are doing so as a matter of fact, most persons started investing from the motivation they got from others.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

It doesn't matter who is doing what, you have to see if you are ready for investment, whether you are ready to take the potential risk of investment, that is the main thing. You should never invest blindly, if we invest blindly because we are greedy only for the profit of others, then we will never be able to survive in investment. That is why you must first have a clear idea or basic general knowledge about Bitcoin investment, it will not bring us success very easily, there is risk, there is instability, so you have to understand everything and invest, so that there is no possibility of failure by making the wrong decision.

[pusaka]

Someone can be motivated by an a close friend or successful investor they come across on the media or so but investment is a personal decision and not based on other people's decision. If someone invest based on other people decision or a guarantee that they'll be wealthy in certain period like some investors use to motivate newbies then such person would end up disappointed in the long run.

 The disappointment mostly starts with volatility, Bitcoin is a volatile asset an sometimes drop so low that some people get discouraged about it especially those whose decision concerning investing in it is was triggered by someone else's instructions or guarantee of certainty for profits. Bitcoin investment should be a personal decision so the investor would be determined to follow it accordingly until the goal for investment is met.

For beginners, they will see other people succeeding and they will think of doing the same thing and hope they can get the same success. That is not wrong for a beginner, because it is one of the ways for everyone to enter the world of investment. Because everyone has their own path until they know about investing.

But what they have to do is always keep learning and not depend on others. At the beginning I will consider it natural because it is part of the process, but as time goes by they must slowly stand on their own feet without depending on others, whoever that is.

[Showlove01]

Following a friend who invest in Bitcoin and you like the investment procedures and after you might finish asking some questions and he clearly told you all you really need to know before you can decide to start, I think that is not a bad decision, except in a situation where the friend is pressuring his friend to invest into Bitcoin when he can't clearly explain in details the up and down in the Bitcoin cycle the risk associated with it, then I think such friends is not doing good to his friend,  because we all know that we have risk management in Bitcoin so your friends are supposed to teach you properly before investing so that you can actually know how to manage risk when it's about to occur.

It is is never a bad idea to invest in Bitcoin because your friends are doing the same, I think that a motivation force working, as long as you aproach them, and you were cleared on the do and don't and also what to expect then I don't see any issues with that, many persons has become rich just because the followed they footsteps of their friends although the otherwise has also happened before but not in Bitcoin unless the person that decided to do what his friends are doing decided to follow it the wrong way, many Bitcoin investors started investing with the information they got from friends, close relative and also reliable informations from the Internet space.

In as much as I would love to say that Bitcoin is a very nice Investment, I would not encourage or advise anyone to invest in Bitcoin simply because your friend(s) are investing in Bitcoin no, it is very wrong and a bad idea because investing in Bitcoin is something one should find interesting and willing to start the journey and not the other way round because there will always be a time when the person will say that " it was because of this person I invested in Bitcoin especially when they are not following up the Investment properly.

[Dreadboost]

Someone can be motivated by an a close friend or successful investor they come across on the media or so but investment is a personal decision and not based on other people's decision. If someone invest based on other people decision or a guarantee that they'll be wealthy in certain period like some investors use to motivate newbies then such person would end up disappointed in the long run.

It's good to listen to people's idea of investment or be motivated by someone,  but it has to be your own decision to invest, not because of someone telling you too, because of promise of making profit at a particular time. If you are one of this kind of people, you will definitely fall a long the way when you are not getting what you are expecting. Investment is a personal decision and willingness to go all the way. You have to be your own motivation and that will help you make better decisions when it comes to investment.

[IceLincoln]

It is not wrong to invest just because others are doing so as a matter of fact, most persons started investing from the motivation they got from others.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

The most important thing is getting started, if a friend motivated you to start investing in bitcoin it’s a good thing now you owe it to yourself to know what you’re spending your money on. So I think most of the time individuals or investors who start because of a friend, eventually get to acquire the knowledge themselves. I don’t think there are investors who follow sheepishly, where you can see that is in trading where you have those who just copy others trade and keep going like that.

[SPIDERMAN008]

Someone can be motivated by an a close friend or successful investor they come across on the media or so but investment is a personal decision and not based on other people's decision. If someone invest based on other people decision or a guarantee that they'll be wealthy in certain period like some investors use to motivate newbies then such person would end up disappointed in the long run.

It's good to listen to people's idea of investment or be motivated by someone,  but it has to be your own decision to invest, not because of someone telling you too, because of promise of making profit at a particular time. If you are one of this kind of people, you will definitely fall a long the way when you are not getting what you are expecting. Investment is a personal decision and willingness to go all the way. You have to be your own motivation and that will help you make better decisions when it comes to investment.

I agree with you that Bitcoin investment should ultimately be a personal decision. Bitcoin investment is not a quick-profit promise. If you invest in the hope of making a profit in short time, then you will be weak if the market goes down a little. In the case of investing in Bitcoin, the investor must first understand why he is investing. If he comes to invest for short-term profit, then it will become trading. He must have a 4 to 10 years or more long-term thinking and investment mind set and he must plan these things himself. Here, if he starts investing in a hurry without any kind of plan after hearing different info from others and getting motivation, then the investor must bear that loss because there are many cases where he invested after listening to others and later when the price of Bitcoin has decreased, he suffered a lot of losses. In bitcoin investment,  we should always proceed based on our own financial condition.

[ejikeme24]

For beginners, they will see other people succeeding and they will think of doing the same thing and hope they can get the same success. That is not wrong for a beginner, because it is one of the ways for everyone to enter the world of investment. Because everyone has their own path until they know about investing.

These is more like "fear of missing out" (FOMO) and it's very wrong for a beginner to get started with their bitcoin investment due to FOMO. Even though a beginner would want to start because they see other people succeeding,first of all they have to ask questions regarding Bitcoin investment to know how it works and the things that are required not just diving into Bitcoin investment without even knowing some basic things about Bitcoin investment, these way the beginner will just go astray. So even though we are going to start due to FOMO but it's necessary to ask questions to get at least one or two informations about bitcoin investment rather than starting with zero knowledge.

[Proty]

For beginners, they will see other people succeeding and they will think of doing the same thing and hope they can get the same success. That is not wrong for a beginner, because it is one of the ways for everyone to enter the world of investment. Because everyone has their own path until they know about investing.

These is more like "fear of missing out" (FOMO) and it's very wrong for a beginner to get started with their bitcoin investment due to FOMO. Even though a beginner would want to start because they see other people succeeding,first of all they have to ask questions regarding Bitcoin investment to know how it works and the things that are required not just diving into Bitcoin investment without even knowing some basic things about Bitcoin investment, these way the beginner will just go astray. So even though we are going to start due to FOMO but it's necessary to ask questions to get at least one or two informations about bitcoin investment rather than starting with zero knowledge.

The most important thing here is if they are able to figure out there discretionary income. If a beginner has been able to figure out there discretionary income then they are good to start investing in bitcoin As regards asking questions how bitcoin works, this not the most important thing or what is required for a beginner before they can start accumulating bitcoin. What are the basics things you feel they should know before they can start buying bitcoin?
It is only wrong to start bitcoin out FOMO if there is no discretionary income or the person is not starting with discretionary income.

[MainIbem]

For beginners, they will see other people succeeding and they will think of doing the same thing and hope they can get the same success. That is not wrong for a beginner, because it is one of the ways for everyone to enter the world of investment. Because everyone has their own path until they know about investing.

These is more like "fear of missing out" (FOMO) and it's very wrong for a beginner to get started with their bitcoin investment due to FOMO. Even though a beginner would want to start because they see other people succeeding,first of all they have to ask questions regarding Bitcoin investment to know how it works and the things that are required not just diving into Bitcoin investment without even knowing some basic things about Bitcoin investment, these way the beginner will just go astray. So even though we are going to start due to FOMO but it's necessary to ask questions to get at least one or two informations about bitcoin investment rather than starting with zero knowledge.

What he's saying might seem to you like FOMO but he wasn't talking about that, he's simply trying to say that most people were motivated into Bitcoin investment by other investors success. FOMO happens when there's a pump in the price of a coin and someone who had an opportunity of buying when the price was down suddenly picks interest on seeing that the coin is pumping and that's not a right way to invest cause the person might make wrong choices of using funds that's not the discretionary fund just to benefit during the pump, but that's not what @pusaka was talking about, his statement was relating with motivation than FOMO.

[PhilosopherKing]

Someone can be motivated by an a close friend or successful investor they come across on the media or so but investment is a personal decision and not based on other people's decision. If someone invest based on other people decision or a guarantee that they'll be wealthy in certain period like some investors use to motivate newbies then such person would end up disappointed in the long run.

It's good to listen to people's idea of investment or be motivated by someone,  but it has to be your own decision to invest, not because of someone telling you too, because of promise of making profit at a particular time. If you are one of this kind of people, you will definitely fall a long the way when you are not getting what you are expecting. Investment is a personal decision and willingness to go all the way. You have to be your own motivation and that will help you make better decisions when it comes to investment.

I agree with you that Bitcoin investment should ultimately be a personal decision. Bitcoin investment is not a quick-profit promise. If you invest in the hope of making a profit in short time, then you will be weak if the market goes down a little. In the case of investing in Bitcoin, the investor must first understand why he is investing. If he comes to invest for short-term profit, then it will become trading. He must have a 4 to 10 years or more long-term thinking and investment mind set and he must plan these things himself. Here, if he starts investing in a hurry without any kind of plan after hearing different info from others and getting motivation, then the investor must bear that loss because there are many cases where he invested after listening to others and later when the price of Bitcoin has decreased, he suffered a lot of losses. In bitcoin investment,  we should always proceed based on our own financial condition.

What plan are you talking about man? What else do person need other than common sense and discretionary income to invest. Investment is ongoing and it is long time  so that mean that person can have the time to invest and also learn and plan other things along the way, so what delay your time with waiting recklessly?  

Even if the discretionary income that person use to start is s.all, that person can still use that to start and figure the way to get another job that can give person more discretionary income along the way .

[laspol65]

Following a friend who invest in Bitcoin and you like the investment procedures and after you might finish asking some questions and he clearly told you all you really need to know before you can decide to start, I think that is not a bad decision, except in a situation where the friend is pressuring his friend to invest into Bitcoin when he can't clearly explain in details the up and down in the Bitcoin cycle the risk associated with it, then I think such friends is not doing good to his friend,  because we all know that we have risk management in Bitcoin so your friends are supposed to teach you properly before investing so that you can actually know how to manage risk when it's about to occur.

It is is never a bad idea to invest in Bitcoin because your friends are doing the same, I think that a motivation force working, as long as you aproach them, and you were cleared on the do and don't and also what to expect then I don't see any issues with that, many persons has become rich just because the followed they footsteps of their friends although the otherwise has also happened before but not in Bitcoin unless the person that decided to do what his friends are doing decided to follow it the wrong way, many Bitcoin investors started investing with the information they got from friends, close relative and also reliable informations from the Internet space.

In as much as I would love to say that Bitcoin is a very nice Investment, I would not encourage or advise anyone to invest in Bitcoin simply because your friend(s) are investing in Bitcoin no, it is very wrong and a bad idea because investing in Bitcoin is something one should find interesting and willing to start the journey and not the other way round because there will always be a time when the person will say that " it was because of this person I invested in Bitcoin especially when they are not following up the Investment properly.

It should be done in a way that makes it easy to hold for a long time, because the longer the Bitcoin investment, the more long-term it will be and for that it is very necessary to follow easy strategies to hold. According to the DCA method, if a Bitcoin investor follows this strategy, he will definitely be able to hold it for a long time and will be able to buy Bitcoin with a small amount of money. Therefore, someone's advice should not be given the highest priority, but you have to take your own risk.
Only the person who can take risks can reach the peak of success. Therefore, it is necessary to take risks to invest in Bitcoin, it is best to continue investing in Bitcoin with your own experience, not the experience of others.

[JayJuanGee]

Initially, in late 2013 when I started, I had been looking for a way to diversify my other investments into something that was like gold, but I did not like gold (even though there had been some index funds that I had initially seen about a month before I started looking into bitcoin), so when I first came accross bitcoin I thought that it was better than the other index funds that I had found, so then I developed a 6 month budget in order to start buying bitcoin, and with my 6 month budget, I divided it into 26 parts so that would be my weekly authorization for how much I was going to put into bitcoin, and I figured that I would get started and that I would try to buy within my budget each week while I continued to study bitcoin.  There was a certain value in just getting started and learning from where to source coins, but then there also was ongoing learning, so I had already been buying bitcoin on a weekly basis for about 3 months when a guy had recommended me to the forum (to the Wall Observer thread). 

You have been registered here for more than 8 months, so perhaps you have been buying bitcoin, yet maybe you feel some value in having had waited rather than getting started, since of course, the BTC price has gone down a lot in the last 8-ish months... but price may or may not be too much of a factor for any guy who might decide to get started buying bitcoin...and he might spend a whole cycle or more just ongoingly buying bitcoin.. .. and perhaps you have different ideas about those matters, too? I would expect the longer a guy is in bitcoin then the more he has had time to learn, even though some guys spend years and years and years in bitcoin and still seem to not know what it is or why they are in bitcoin.

What about you? what are your reasons now versus what were your reasons when you started? and have your reasons changed or your approach?

With all the dissecting conversations we’ve been having, I’m beginning to see it from your perspective, this is the moment I have to say I disagree to agree.
I actually believe that to get started with any investment you need the money to start (that’s your discretionary) and some basic knowledge of that investment. But now I can see that if you have the money you can start investing and then gather the knowledge as you go on.

From your own story, before you started investing in bitcoin, you found some informations about bitcoin that made you decide to want to invest in it… will that not be considered as gathering basic knowledge?

Of course, each person starts from where he is at, and merely because I suggested that a guy can start as soon as he figures out that he has discretionary funds, he may also use his own judgement to figure out what information that he needs in order to get started at his own pace... and some guys might know more than others at the time that they start.   I do know some of the parameters of my own starting from late 2013, and it probably took me a week or two to go through various possible places to source bitcoin, and back then, some of them took a while to set up, and then others had higher fees, so there are various tradeoffs to study, and even if a guy figures out his budget, he still may be concerned about how much to put in right from the start with some of the test transactions or maybe connecting bank accounts to exchange accounts.. and I remember that one of my very first transaction was through Local Bitcoins, and so I had to meet with a person in my area and give the person cash so then he could give me the bitcoin... So there was a bit of a need to get comfortable with the idea of meeting a stranger in a public place to make a bitcoin exchange and to give them cash and hope that they sent the bitcoin.

You could have easily invested in gold or any other asset if the only requirement was discretionary money. And you were already a seasoned investor.

At the time, I started buying bitcoin, I had about 20 years of various kinds of investing and cashflow management practices, and probably many of my investments at that time were index funds, even though I had some other kinds of investments, too... so yeah, I had some experiences that helped me in the ways that I thought about bitcoin and also thought how I was going to establish my initial bitcoin position, which I had expected to at least start with a six month period with the 26 weekly allocations that I had already decided towards the beginning in regards to what I was going to do.

From my perspective, my own experience is not what necessarily caused me to be able to get started, since guys are able to use their own judgement and to figure out from their own experiences, knowledge and skills about how they are going to start and how they are going to budget their beginning into buying bitcoin and also potentialy strengthening their own cashflow management too (including building back up funds in the event that they don't already have them when they get started.

What I can conclude is that getting started with bitcoin might be different for everyone.

Sure it is different, yet the very bare minimum to be able to get started is having discretionary funds available.

While some might need a knowledge of what they’re getting into like me others can just put in their money (what they can afford to lose) and gain the knowledge and conviction as they grow in their investment experience.

Part of the reason that I gave the example of the guy who purposefully choose $30 per week, when he knew that he had $100 per week available, was to show that it seems that exercising good judgement also means to modify the way of starting to a place that is comfortable, and surely there may be some guys who have a whole lot of money that they could start with, let's say that a guy in his mid-30s, has an income of $30k per year and he had been investing $100 per week already for 10 years at the time that he heard about bitcoin, and he had already invested $30k over the past 10 years and his investment was worth around $50k. 

Maybe he would be willing to put $15k of his already existing investment into bitcoin, yet he might not want to transfer that $15k over to bitcoin right away, yet he is eager to figure out ways to invest that $15k into bitcoin over then next 6 months or maybe in the next 12 months or maybe in the next 18 months, and the meantime, maybe he wants to continue to invest his $100 per week, but he wants to put half of that into bitcoin and the other half into his already existing investment. 

Guys can decide all kinds of things based on where they are already at and we do not need to patronize them and act like we know what they need to know about bitcoin, about investing and/or about cashflow management.  They can start from where they are at and figure out their own ways of going forward, and sure bitcoin might be a different kind of investment, but they can figure out how they can learn as they go.

A friend introduced me to bitcoin, I had the wrong impression about bitcoin, I was only after profits, preferred dealing with Altcoins, I was thinking bitcoin was already too expensive to get started. So after my discussions with my friend I did a little research and I decided to give it a try. Then I later discovered this forum and my knowledge and trust began to increase. I started with monthly buys but I’ve increased the amount I put in monthly and my level of aggressiveness, sometimes I do weekly.
Now I see bitcoin as a way of saving money for the future without worrying about inflation, and a means to build wealth.

For sure, it can take a long time to build investments, and there are surely guys who spend 30-40 years or longer building investments, and sometimes they never really get to a place where their investment will support their income level, so they may well have concerns about whether bitcoin might be able to be a better investment as compared with other investment options that they might have, whether they ONLY invest in bitcoin or if they might invest in bitcoin as well as other assets.

I personally think that it is possible to spend several years investing only in bitcoin, yet guys still have to figure out what other investment choices that they might have available to them, and if those other investment options are worth allocating into or might it be better to build the bitcoin investment first for 1-2 cycles and then re-assess whether the bitcoin investment approach might need to be reconsidered or to just continue to mostly stay focused on investing in bitcoin and managing their cash as a way to balance out the bitcoin.

It seems to me if both the bitcoin and the cash starts to become large, then the part that likely needs to be diversified is the cash part and not necessarily the bitcoin part, yet if a guy is able to put 1-2 years of his income into bitcoin, then it may welll be likely that his bitcoin has good chances of growing and continuing to grow, even though bitcoin's ongoing growth is not guaranteed to happen.

The more value that guys build up in bitcoin, then likely the more concerns that they need to have to make sure that they are holding their bitcoin in ways that are sufficiently secure and/or private, yet if it takes years and years and years to build up the bitcoin investment size, then likely they should be able to continue to study bitcoin as they go and to make sure that they are comfortable with the various ways that they are holding bitcoin and/or using their bitcoin, too.

[KeenanEl19]

It should be done in a way that makes it easy to hold for a long time, because the longer the Bitcoin investment, the more long-term it will be and for that it is very necessary to follow easy strategies to hold. According to the DCA method, if a Bitcoin investor follows this strategy, he will definitely be able to hold it for a long time and will be able to buy Bitcoin with a small amount of money. Therefore, someone's advice should not be given the highest priority, but you have to take your own risk.
Only the person who can take risks can reach the peak of success. Therefore, it is necessary to take risks to invest in Bitcoin, it is best to continue investing in Bitcoin with your own experience, not the experience of others.

In essence, the DCA strategy is better or more suitable for long-term use. Furthermore, investing in Bitcoin is not recommended if the goal is short-term, especially for quick profits. Furthermore, we must be mindful of other factors, such as our own cash flow. It's better to focus on maintaining a budget to ensure investments remain sustainable and consistent over the long term. Taking risks is sometimes necessary for success, and even failures offer lessons to be learned. However, careful consideration is essential before making any decision. This means not making random decisions. For example, when the price drops, we can take the risk of accumulating more money, but careful consideration is necessary first.

[alankasman]

...

In essence, the DCA strategy is better or more suitable for long-term use. Furthermore, investing in Bitcoin is not recommended if the goal is short-term, especially for quick profits. Furthermore, we must be mindful of other factors, such as our own cash flow. It's better to focus on maintaining a budget to ensure investments remain sustainable and consistent over the long term. Taking risks is sometimes necessary for success, and even failures offer lessons to be learned. However, careful consideration is essential before making any decision. This means not making random decisions. For example, when the price drops, we can take the risk of accumulating more money, but careful consideration is necessary first.

One reason why they don't want a short-term investment pattern is because basically the short time is not something that can provide benefits for them because if calculated with the income they will receive is less, especially now with the decline in prices which makes them actually not want to invest in the short term simply because the income they earn is only enough to do it this way. Because with such a very limited income they must do it to suffice for needs in order to survive because these needs are part of a person's responsibility and it is impossible to do everything with the amount received by that person.

Long term is the right time or choice in investing after doing DCA on the amount of BTC that we will invest by following the long term because someone is doing a long term investment pattern because they have discretionary income that is more than their needs meaning that the income they generate certainly exceeds their needs so that it can be categorized as having an income capacity that exceeds so that when someone invests with a long term pattern they are no longer worried about the duration of time which is not a little but long just because they have enough income to make them have to do it with a long term pattern so that whether the price is in decline or increase for them is no longer a problem they face because they have sufficient cash flow or income in doing both things, one of which is investing long term without thinking about matters related to responsibility for needs because they already have and have everything for needs by having enough income so that for them it is very easy to do it whether it is for investment or for needs which are the main points in solving problems.

[Tetu100]

It's good to listen to people's idea of investment or be motivated by someone,  but it has to be your own decision to invest, not because of someone telling you too, because of promise of making profit at a particular time. If you are one of this kind of people, you will definitely fall a long the way when you are not getting what you are expecting. Investment is a personal decision and willingness to go all the way. You have to be your own motivation and that will help you make better decisions when it comes to investment.

You are right. Investing in bitcoin shouldn't be any form of competition with anybody, it should be a personal decision made within our self so as to be ready, determined and open to face whatever that is pretty involved. Fine someone can likely want to introduce you to the system no doubt but it's left for the person in question to make decision himself if to go ahead or not. However, acting outside your will or under dures can be very risky and most times it can make you fall off your investment journey because you initially lack the interest, determination and other things that should have kept you firm in it.

[Sulegzy39]

In my perspective Some of us learned about bitcoin from a friend, an article, or a stranger online, and we're doing well with it now. So it really doesn't matter who or where you obtain your bitcoin investment information from; you have a responsibility to complete your due diligence by diving deep into what you've learned or heard and finding the finest possible ways to execute it correctly and successfully. There is no hard or simple path; it is just about studying and putting what you've learned into practice to see if it works or not.

It's fine to listen to other people's investment ideas or be driven by someone, but you must make your own decision to invest, not because someone else told you to or because of the promise of reward at a specific time. If you are one of these people, you will undoubtedly fall along the way when you do not receive what you expect. Investment is a personal decision that requires a desire to go the distance. You must be your own motivation, which will allow you to make better financial judgements.

[ruykeri]

It should be done in a way that makes it easy to hold for a long time, because the longer the Bitcoin investment, the more long-term it will be and for that it is very necessary to follow easy strategies to hold. According to the DCA method, if a Bitcoin investor follows this strategy, he will definitely be able to hold it for a long time and will be able to buy Bitcoin with a small amount of money. Therefore, someone's advice should not be given the highest priority, but you have to take your own risk.
Only the person who can take risks can reach the peak of success. Therefore, it is necessary to take risks to invest in Bitcoin, it is best to continue investing in Bitcoin with your own experience, not the experience of others.

In essence, the DCA strategy is better or more suitable for long-term use. Furthermore, investing in Bitcoin is not recommended if the goal is short-term, especially for quick profits. Furthermore, we must be mindful of other factors, such as our own cash flow. It's better to focus on maintaining a budget to ensure investments remain sustainable and consistent over the long term. Taking risks is sometimes necessary for success, and even failures offer lessons to be learned. However, careful consideration is essential before making any decision. This means not making random decisions. For example, when the price drops, we can take the risk of accumulating more money, but careful consideration is necessary first.

When it comes to investing in Bitcoin, if you make a hasty decision, you will face losses. Investing in Bitcoin is mainly for those who are patient those who have a mindset of holding for a long time. However, you have to have the ability to maintain the mentality of investing for a long time. And the ability to invest regularly means having discretionary income. In addition, if you have a proper backup fund, you can remain stable during long-term market volatility and any emergency in your personal life. Patience is not only created automatically during investing in Bitcoin, but is also possible through proper planning.

[johnsaributua]

You are right. Investing in bitcoin shouldn't be any form of competition with anybody, it should be a personal decision made within our self so as to be ready, determined and open to face whatever that is pretty involved. Fine someone can likely want to introduce you to the system no doubt but it's left for the person in question to make decision himself if to go ahead or not. However, acting outside your will or under dures can be very risky and most times it can make you fall off your investment journey because you initially lack the interest, determination and other things that should have kept you firm in it.

I'm also surprised by what you said. This doesn't mean it's wrong, but I need to emphasize that many things happen as you said. Many things are perceived this way so ultimately competition will begin for those who think differently about how to invest.

If they behave as usual maybe things like that will not happen so it is true what you said that everything we do is absolutely the decision of each of us so that whatever happens to another party we do not need to investigate because in the end there will be small things that will become big problems because basically we always seek knowledge of the results achieved by others so this depends on our will and decision in considering how clearly investing is not a competition but how our approach is to continue to understand correctly so that mistakes do not occur when investing in Bitcoin.

[Princess Leah]

In as much as I would love to say that Bitcoin is a very nice Investment, I would not encourage or advise anyone to invest in Bitcoin simply because your friend(s) are investing in Bitcoin no, it is very wrong and a bad idea because investing in Bitcoin is something one should find interesting and willing to start the journey and not the other way round because there will always be a time when the person will say that " it was because of this person I invested in Bitcoin especially when they are not following up the Investment properly.

It's not bad to be motivated by a friend to invest in Bitcoin but what's bad is doing it blindly without having any clue on what to do or where to get it from, such person could end up falling for a scammer while trying to own some Bitcoin. Am not saying people should take their time to study Bitcoin, but after figuring out one's discretionary funds for the investment a little understanding is not bad.

 One thing you should know is that whether there's a difference between motivated by someone experienced to invest and being persuaded by someone to invest, what you meant is being persuaded by someone cause at the end you might end up blaming the person if things doesn't go the way it should be. It's the more reason why Bitcoin investment should be a personal decision.