Buy Buy Buy or Sell Sell Sell?

[hmbdofficial]

Long term investment won’t teach you any patience if you don’t already have patience and discipline in your life as a quality, prior to the time of investing in bitcoin. Not everybody has patience as a quality in life, you will be whom you are after investing in bitcoin. Investing in bitcoin won’t just transform an impatience  man to a patient man. That is why some people will tell you that they can’t hold their bitcoin for long, not that they don’t like the idea of holding their bitcoin for a long period, but they lack patience and discipline in their life. Investing in bitcoin won’t change that overnight. At first they can try to hold for few weeks or months, but on the long run their inherent quality will always have the best of them. So it is better for intending investors to know their strength and weaknesses before deciding to invest in bitcoin.

Well, I might as well not agree with your point. I feel patience and discipline are not necessarily fixed qualities that someone must already have before investing in bitcoin. Because those qualities can actually be developed through experience and repeated practice.
Someone that start his investment with small amounts with a long term plan can gradually become more comfortable with volatility and eventually learn to react with every short term price movement.

I also don’t think we can say that a person existing behaviour will always have the best of them. People naturally change their financial habits when they are exposed to real consequences and learn from experience. Bitcoin may not automatically make an impatient person patient, but having a long term investment and deliberately sticking to a plan can become part of developing patient and discipline over time.
The important thing is to invest is to invest an amount one can reasonably afford and have a clear plan rather than assuming their habits can never change.

[Creeper0]

Yes, you can never buy Bitcoin all at once no matter how wealthy you are, I think that is 100% certain.

If someone has a regular savings plan, a reserve has been created in advance in the plan to buy when the price falls and has met the necessary expenses and an emergency fund, then he can definitely buy if he wants. There is no problem in this, because he is not destroying his main plan of regular savings. Again, if someone wants, he can divide the same amount into several parts and buy over time, it is the person's own decision. The main issue here is not the name of the method, but rather whether the money is really beyond the need or not.

Again, the matter may be different in the case of those who have regular income. Again, those who get income once a month, if they want, they can divide their monthly discretionary income weekly so that they do not have to depend on the market price on a day. Even if he wants to invest by determining the investment amount on the first day, considering all aspects, he can do it.

DCA is not only weekly, but there are also monthly DCA and quarterly DCA. So there is no obligation to set DCA, rather you can choose DCA based on your situation and your needs. You can even change DCA later as per your needs and situation.

There is no such obligation in case of aggressive buying, if you have extra discretionary funds, you can invest in Lump Sum strategy or spread the fund with DCA or buy dip. You have to decide which strategy you are comfortable with and which strategy your situation encourages you to adopt.

[Umulala-alala]

Yes, you can never buy Bitcoin all at once no matter how wealthy you are, I think that is 100% certain.

If someone has a regular savings plan, a reserve has been created in advance in the plan to buy when the price falls and has met the necessary expenses and an emergency fund, then he can definitely buy if he wants. There is no problem in this, because he is not destroying his main plan of regular savings. Again, if someone wants, he can divide the same amount into several parts and buy over time, it is the person's own decision. The main issue here is not the name of the method, but rather whether the money is really beyond the need or not.

Again, the matter may be different in the case of those who have regular income. Again, those who get income once a month, if they want, they can divide their monthly discretionary income weekly so that they do not have to depend on the market price on a day. Even if he wants to invest by determining the investment amount on the first day, considering all aspects, he can do it.

DCA is not only weekly, but there are also monthly DCA and quarterly DCA. So there is no obligation to set DCA, rather you can choose DCA based on your situation and your needs. You can even change DCA later as per your needs and situation.

There is no such obligation in case of aggressive buying, if you have extra discretionary funds, you can invest in Lump Sum strategy or spread the fund with DCA or buy dip. You have to decide which strategy you are comfortable with and which strategy your situation encourages you to adopt.

You can dca when ever you have your discretionary income available so it's not only on weekly or monthly bases, as there are some weeks or months that you may not dca it could be due to you were not able to figure out if you have any discretionary income to dca with in those weeks or months, sometimes too it could just take an interval of 3-4 days and you can still dca if you have your discretionary income ready.

The dca strategy still remain one of the best strategy use in buying bitcoin, buying only the dip isn't good and it's not for long time bitcoin investor, with the dca strategy you don't have to wait for any dip again rather you could buy more bitcoin when the price of bitcoin goes low that is if you have more funds to buy more during the dip.

[Princess Leah]

DCA is not only weekly, but there are also monthly DCA and quarterly DCA. So there is no obligation to set DCA, rather you can choose DCA based on your situation and your needs. You can even change DCA later as per your needs and situation.

There is no such obligation in case of aggressive buying, if you have extra discretionary funds, you can invest in Lump Sum strategy or spread the fund with DCA or buy dip. You have to decide which strategy you are comfortable with and which strategy your situation encourages you to adopt.

Your needs doesn't concerns the DCA, remember that the discretionary is what's being used for investment which is the money remaining after settling essentials which are your needs so once your needs are settled the channel to the discretionary to your investment it's legt for you to figure out the interval that would be suitable to DCA.

 I'll advise he use a strategy that requires him to be consistent, the one that won't make him panic when the market is volatile, to my understanding the most favorable to ease the pressure of volatility is consistency so using the DCA is the best option.

[JayJuanGee]

Yes, you can never buy Bitcoin all at once no matter how wealthy you are, I think that is 100% certain.

If someone has a regular savings plan, a reserve has been created in advance in the plan to buy when the price falls and has met the necessary expenses and an emergency fund, then he can definitely buy if he wants.

There is no need to create back up funds in advance to get started buying bitcoin, and if a guy gets started and he already has a lot of back up funds, such as more than several months of expenses and he has absolutely no bitcoin, then he may well need to take from his back up funds to put some of that value into bitcoin and then thereafter to grow his bitcoin and his back up funds at a similar rate.

There is no problem in this, because he is not destroying his main plan of regular savings.

There could be a problem to have a bunch of back up funds and then have absolutely no bitcoin..

Again, if someone wants, he can divide the same amount into several parts and buy over time, it is the person's own decision. The main issue here is not the name of the method, but rather whether the money is really beyond the need or not.

Again, the matter may be different in the case of those who have regular income. Again, those who get income once a month, if they want, they can divide their monthly discretionary income weekly so that they do not have to depend on the market price on a day. Even if he wants to invest by determining the investment amount on the first day, considering all aspects, he can do it.

I tend to appreciate guys figuring out how to buy bitcoin every week, if possible, even if they might only get paid monthly.

Guys might have to figure out how to accomplish and to set up systems so that they can buy bitcoin every week.

Yes, you can never buy Bitcoin all at once no matter how wealthy you are, I think that is 100% certain.

If someone has a regular savings plan, a reserve has been created in advance in the plan to buy when the price falls and has met the necessary expenses and an emergency fund, then he can definitely buy if he wants. There is no problem in this, because he is not destroying his main plan of regular savings. Again, if someone wants, he can divide the same amount into several parts and buy over time, it is the person's own decision. The main issue here is not the name of the method, but rather whether the money is really beyond the need or not.

Again, the matter may be different in the case of those who have regular income. Again, those who get income once a month, if they want, they can divide their monthly discretionary income weekly so that they do not have to depend on the market price on a day. Even if he wants to invest by determining the investment amount on the first day, considering all aspects, he can do it.

DCA is not only weekly, but there are also monthly DCA and quarterly DCA. So there is no obligation to set DCA, rather you can choose DCA based on your situation and your needs. You can even change DCA later as per your needs and situation.

Guys might not be sufficiently serious about buying and/or investing into bitcoin if they cannot figure out ways to buy bitcoin every week.  Sure, they can invest on a more delayed timeline, yet it seems that they should be able to figure out how to invest more frequently, including weekly, especially if they are trying to be serious about building their bitcoin holdings.

There is no such obligation in case of aggressive buying, if you have extra discretionary funds, you can invest in Lump Sum strategy or spread the fund with DCA or buy dip. You have to decide which strategy you are comfortable with and which strategy your situation encourages you to adopt.

Sure, it is true that level of aggressiveness and/or level of whimpiness is a choice, and also choosing buying strategies that work best tend to be a choice too, yet DCA tends to work for a lot of guys and tends to be amongst the better of choices.. especially since guys can adjust their DCA to their available funds as the funds become available.

Lump sum and buying on dip might not be as practical for regular guys who might only have small discretionary funds, yet even guys with low income might come accross lump sum amounts from time to time in which they might consider lump sum buying and/or buying on dips as being more practical or maybe a hedge of their money to buy in that way rather than DCA.

[sotelorene]

DCA is not only weekly, but there are also monthly DCA and quarterly DCA. So there is no obligation to set DCA, rather you can choose DCA based on your situation and your needs. You can even change DCA later as per your needs and situation.

There is no such obligation in case of aggressive buying, if you have extra discretionary funds, you can invest in Lump Sum strategy or spread the fund with DCA or buy dip. You have to decide which strategy you are comfortable with and which strategy your situation encourages you to adopt.

I agree with you, DCA method depends on someone cash flow which they can sort out their discretionary income from and if someone is the type that makes huge amount of money every two to three days, they can decide to be accumulating in this days they do make money so it is not limited to weekly, monthly etc because our accumulation is a function of our source of income. The problem is that some people don't know what they are doing so they try to copy other person when they don't have same source of Income with those people and this can really affect someone negatively.

[Dxdiax26]

I agree with you, DCA method depends on someone cash flow which they can sort out their discretionary income from and if someone is the type that makes huge amount of money every two to three days, they can decide to be accumulating in this days they do make money so it is not limited to weekly, monthly etc because our accumulation is a function of our source of income. The problem is that some people don't know what they are doing so they try to copy other person when they don't have same source of Income with those people and this can really affect someone negatively.

On the one hand, your answer is correct and I need to add a little more based on my knowledge, that the DCA method also doesn't place too much of a burden on those who use it. This means that even if income is quite limited, any remaining amount can be accumulated giving you more freedom in accumulating.

Amount is no longer the priority in Bitcoin accumulation consistency is the key, which forces individuals to prioritize this step. Another reason is that accumulation doesn't require large amounts as the primary rule.
This greatly simplifies things for those who sometimes have leftovers from their needs, and can accumulate them as future assets, even if it's a small amount. However, those who consistently have leftovers from their needs still accumulate.

[Different patterns]

Yes, you can never buy Bitcoin all at once no matter how wealthy you are, I think that is 100% certain.

If someone has a regular savings plan, a reserve has been created in advance in the plan to buy when the price falls and has met the necessary expenses and an emergency fund, then he can definitely buy if he wants.

There is no need to create back up funds in advance to get started buying bitcoin, and if a guy gets started and he already has a lot of back up funds, such as more than several months of expenses and he has absolutely no bitcoin, then he may well need to take from his back up funds to put some of that value into bitcoin and then thereafter to grow his bitcoin and his back up funds at a similar rate.

I also believe that backup funds play a very important role aspect of bitcoin accumulation. because it help investor from touching their bitcoin whenever unexpected things happen. However, building backups funds first is not a best approach, that will unnecessarily delay your starting. Especially for people that just start with little amount, thinking that it might not be enough to build bitcoin position, the goal is not to rush bitcoin, that shouldn’t stop them from starting, building bitcoin position not necessarily mean the funds must big. With gradual process they can build both bitcoin position and backup funds together without waiting for one to complete before start another one.

[ChocolateBitcoinK]

Yes, you can never buy Bitcoin all at once no matter how wealthy you are, I think that is 100% certain.

If someone has a regular savings plan, a reserve has been created in advance in the plan to buy when the price falls and has met the necessary expenses and an emergency fund, then he can definitely buy if he wants.

There is no need to create back up funds in advance to get started buying bitcoin, and if a guy gets started and he already has a lot of back up funds, such as more than several months of expenses and he has absolutely no bitcoin, then he may well need to take from his back up funds to put some of that value into bitcoin and then thereafter to grow his bitcoin and his back up funds at a similar rate.

I also believe that backup funds play a very important role aspect of bitcoin accumulation. because it help investor from touching their bitcoin whenever unexpected things happen. However, building backups funds first is not a best approach, that will unnecessarily delay your starting. Especially for people that just start with little amount, thinking that it might not be enough to build bitcoin position, the goal is not to rush bitcoin, that shouldn’t stop them from starting, building bitcoin position not necessarily mean the funds must big. With gradual process they can build both bitcoin position and backup funds together without waiting for one to complete before start another one.

The purpose of a backup fund or emergency fund is to provide financial assistance in situations when a sudden need arises. This is important in the case of volatile assets like Bitcoin. Because if the market price is low at the time of need, there may be a risk of being forced to sell. There is no obligation to completely build up a specific amount of emergency fund before starting to invest. For some, it may take a long time to build up the entire fund. Creating a mandatory rule not to invest at all until that time can delay the time to start investing for many.

If there is a small surplus after meeting the necessary expenses, then instead of taking the entire amount to one side, a step-by-step approach can be taken such as putting some of the money aside in Bitcoin according to one's ability and some of it for future emergencies. The amount of investment can be increased later according to income and ability. Or, if a person wants, he can move forward with two goals at the same time: on the one hand, collecting Bitcoin regularly and on the other hand, strengthening his backup fund.

[Merit.s]

if someone is the type that makes huge amount of money every two to three days, they can decide to be accumulating in this days they do make money so it is not limited to weekly, monthly etc.

I think weekly DCA is ok than daily because of the stress attached to it and you might think that you don't need money tomorrow after buying today, something pops up and you don't have float on ground to take care of that unplanned expenses. With weekly DCA, you can properly organize your income and know how much from your discretionary income you can use to buy bitcoin at that week.

 There's nothing bad if you are getting daily income, you keep them for one figure and figure out how much is your discretionary income from it. Daily DCA isn't realistic and comes with stress.

[Cyber_warrior]

if someone is the type that makes huge amount of money every two to three days, they can decide to be accumulating in this days they do make money so it is not limited to weekly, monthly etc.

I think weekly DCA is ok than daily because of the stress attached to it and you might think that you don't need money tomorrow after buying today, something pops up and you don't have float on ground to take care of that unplanned expenses. With weekly DCA, you can properly organize your income and know how much from your discretionary income you can use to buy bitcoin at that week.

 There's nothing bad if you are getting daily income, you keep them for one figure and figure out how much is your discretionary income from it. Daily DCA isn't realistic and comes with stress.

I think your DCA should be decided by when you pay for your basic needs. If your basically needs like light bills, water bills, food and so on is being sorted weekly, then your accumulation can be weekly, and if it monthly then your accumulation can be monthly as well. We are investing with our discretionary income and we can only have that after we have spend on our needs.

So it doesn’t matter if you are earning so much every 2 or 3 days, the main thing is when do you sort your bills. Our need should be our priority before anything else. So daily DCA will definitely be impossible to do, because we might end up investing  part of our needs finances.

[Agbam]

Guys might not be sufficiently serious about buying and/or investing into bitcoin if they cannot figure out ways to buy bitcoin every week.  Sure, they can invest on a more delayed timeline, yet it seems that they should be able to figure out how to invest more frequently, including weekly, especially if they are trying to be serious about building their bitcoin holdings.

Yes, I support that buying weekly is better and more beneficial in building a bitcoin portfolio than buying monthly or any other time period but I also do not think that those who buy monthly are not serious investors.

Some investors may prefer to just buy once the discretionary income is available because if they try to split it to be able to buy weekly they might end up not using it as intended before the month runs out or it could be any other reason why they’ll want to, it’s at their discretion and pace, there’s no pressure.

What’s important is that they remain consistent and disciplined enough to never falter from their plans.

[ejikeme24]

if someone is the type that makes huge amount of money every two to three days, they can decide to be accumulating in this days they do make money so it is not limited to weekly, monthly etc.

I think weekly DCA is ok than daily because of the stress attached to it and you might think that you don't need money tomorrow after buying today, something pops up and you don't have float on ground to take care of that unplanned expenses. With weekly DCA, you can properly organize your income and know how much from your discretionary income you can use to buy bitcoin at that week.

 There's nothing bad if you are getting daily income, you keep them for one figure and figure out how much is your discretionary income from it. Daily DCA isn't realistic and comes with stress.

If you have a multiple streams of income then you may not find it hard while buying daily, I'm sure there are guys out there who are buying Bitcoin daily even though I don't know of any guy who is buying with this method but those with multiple streams of income can do it. And yeah, this method of buying daily might be a bit tough for those that does not have a multiple streams of income which is why each and everyone of us have to consider our financial capacity or situation before making choice in regards to buying daily or weekly. It's better to use  a flexible approach than using a method that would affect our finance.

[Queen Julie]

DCA is not only weekly, but there are also monthly DCA and quarterly DCA. So there is no obligation to set DCA, rather you can choose DCA based on your situation and your needs. You can even change DCA later as per your needs and situation.

There is no such obligation in case of aggressive buying, if you have extra discretionary funds, you can invest in Lump Sum strategy or spread the fund with DCA or buy dip. You have to decide which strategy you are comfortable with and which strategy your situation encourages you to adopt.

Your needs doesn't concerns the DCA, remember that the discretionary is what's being used for investment which is the money remaining after settling essentials which are your needs so once your needs are settled the channel to the discretionary to your investment it's legt for you to figure out the interval that would be suitable to DCA.

 I'll advise he use a strategy that requires him to be consistent, the one that won't make him panic when the market is volatile, to my understanding the most favorable to ease the pressure of volatility is consistency so using the DCA is the best option.

Arguably, you don't understand what he meant. The needs obviously concern the duration of DCA. An investor who earns weekly may decide to gather all the money in a month and take out the needs before doing DCA. Because of the need, he will keep the money stacked until the end of the month. It is when the needs have been sorted out that he will think of doing his DCA. That is the influence of need on DCA.

Some folks ask whether discretionary income or basic need which is important. And my reply is that basic needs are more important than discretionary income. If an investor can't afford his basic needs comfortably, he shouldn't be investing.

[JayJuanGee]

if someone is the type that makes huge amount of money every two to three days, they can decide to be accumulating in this days they do make money so it is not limited to weekly, monthly etc.

I think weekly DCA is ok than daily because of the stress attached to it and you might think that you don't need money tomorrow after buying today, something pops up and you don't have float on ground to take care of that unplanned expenses. With weekly DCA, you can properly organize your income and know how much from your discretionary income you can use to buy bitcoin at that week.

 There's nothing bad if you are getting daily income, you keep them for one figure and figure out how much is your discretionary income from it. Daily DCA isn't realistic and comes with stress.

I think your DCA should be decided by when you pay for your basic needs. If your basically needs like light bills, water bills, food and so on is being sorted weekly, then your accumulation can be weekly, and if it monthly then your accumulation can be monthly as well. We are investing with our discretionary income and we can only have that after we have spend on our needs.

So it doesn’t matter if you are earning so much every 2 or 3 days, the main thing is when do you sort your bills. Our need should be our priority before anything else. So daily DCA will definitely be impossible to do, because we might end up investing  part of our needs finances.

If we are in control of our finances and we have strong cashflows, then it should not matter when we get paid or when our bills come due.  We should be able to figure out ways to accomplish weekly bitcoin buys.

Yes.  Daily buys seem impractical and burdensome, and if we are new to bitcoin or we are in our early bitcoin accumulation phases, then it is likely a good thing that we prioritize buying bitcoin and figure out ways to mostly accomplish such bitcoin buys on a weekly basis.

Guys might not be sufficiently serious about buying and/or investing into bitcoin if they cannot figure out ways to buy bitcoin every week.  Sure, they can invest on a more delayed timeline, yet it seems that they should be able to figure out how to invest more frequently, including weekly, especially if they are trying to be serious about building their bitcoin holdings.

Yes, I support that buying weekly is better and more beneficial in building a bitcoin portfolio than buying monthly or any other time period but I also do not think that those who buy monthly are not serious investors.

Some investors may prefer to just buy once the discretionary income is available because if they try to split it to be able to buy weekly they might end up not using it as intended before the month runs out or it could be any other reason why they’ll want to, it’s at their discretion and pace, there’s no pressure.

What’s important is that they remain consistent and disciplined enough to never falter from their plans.

You are correct, that in the end, each person has to figure out his balance in buying bitcoin and his priority, and he can be whimpy about buying bitcoin, aggressive, or some stage in between.

I understand that there are even guys who struggle to generate discretionary funds and/or struggle to get their discretionary funds up to a high enough level so that they are able to invest into bitcoin, and at the same time, bitcoin is an important and serious investment that warrants whatever attempts that guys can make to increase their bitcoin investment and to put priority to their bitcoin investment.

Sure, I generally suggest that guys can invests as much as they are able to, and I even provide a decently large suggested range of 5% to 25%, and I understand that many normal people struggle to save and/or invest 10% of their income on a regular basis, yet at the same time, since there should be a priority in investing into bitcoin, serious guys in bitcoin should be striving to figure out how they can improve their situation (and/or prioritize) to invest 10% to 15% or more of their income into bitcoin as much as they can. .. and anyone investing 10% or more of their income into bitcoin, should be able to figure out how to buy bitcoin weekly rather than monthly or anything longer than weekly.

[edited out]

..... And my reply is that basic needs are more important than discretionary income. If an investor can't afford his basic needs comfortably, he shouldn't be investing.

You are correct. If a person does not have discretionary income, and/or if he is investing into bitcoin beyond his discretionary income, then he is gambling and not investing.

Many of us advise against gambling with bitcoin... so hopefully guys figure out how to make sure that they are investing from their discretionary income, and if their situation is ambiguous in regards to whether they have discretionary income or not, then it is probably the case that they do not have discretionary income.

Another thing about investing into bitcoin and discretionary income, bitcoin investing is 4-10 years or longer, so a person both needs to be using money to invest in bitcoin that he can lock away for 4-10 years or longer and also money that he is able to lose... so yeah, there should be an ability to be able to emotionally detach from the money that is being invested into bitcoin and to treat such money as unavailable for 4-10 years or longer..... Sure, of course, if some great emergency comes, guys can do what they like, including cashing out all of their bitcoin, yet they should not be going into bitcoin and planning to have access to the money that they put into bitcoin for 4-10 years or longer... and perhaps even never if the bitcoin investment goes bad by their own mistakes in execution or some unexpected macro-event and/or unanticipated problem with the asset (referring to bitcoin).

[Sulegzy39]

Long term investment won’t teach you any patience if you don’t already have patience and discipline in your life as a quality, prior to the time of investing in bitcoin. Not everybody has patience as a quality in life, you will be whom you are after investing in bitcoin. Investing in bitcoin won’t just transform an impatience  man to a patient man.

Patience is something that can really be developed through experience and and a personal quality, cause you won’t expect an impatient person to just invest in Bitcoin and automatically makes the person patient. But following up with a long term plan can help out to control one’s urge to want to react to every price movement.

Given an example, someone can decide to start up with a short term plan but on the long round, he will realize that this buying and selling is not really working out for him. Than will want to find an approach that fit his goal than stick to a strategy. With time you will see that they gradually develop more discipline. So you will see that the experience itself teaches also, so we shouldn’t basically say that patience must have to be in an existence before anyone start to invest.  

If you don't already possess patience and discipline in your life before investing in bitcoin, long-term investing won't teach you any of these traits. You will become the person you are after investing in bitcoin; not everyone is patient. A man who is impatient won't simply become patient by investing in bitcoin. Because of this, some people will tell you that they can't keep their bitcoin for very long. This isn't because they dislike the idea, but rather because they don't have the patience or self-control to do so.

Investing in bitcoin will not change this overnight. They may be able to hold out for a few weeks or months at first, but in the long run, their inherent quality will always prevail. So, before investing in bitcoin, prospective investors should understand their own strengths and weaknesses.

[Stive009]

If you don't already possess patience and discipline in your life before investing in bitcoin, long-term investing won't teach you any of these traits. You will become the person you are after investing in bitcoin; not everyone is patient. A man who is impatient won't simply become patient by investing in bitcoin. Because of this, some people will tell you that they can't keep their bitcoin for very long. This isn't because they dislike the idea, but rather because they don't have the patience or self-control to do so.

Investing in bitcoin will not change this overnight. They may be able to hold out for a few weeks or months at first, but in the long run, their inherent quality will always prevail. So, before investing in bitcoin, prospective investors should understand their own strengths and weaknesses.

I do not entirely agree with the notion that Bitcoin investment cannot instill patience or discipline in those who lack these qualities. Of course simply buying Bitcoin won't make someone disciplined or patient overnight. However I believe that once a person invests their own money the process of monitoring the investment learning and correcting mistakes based on experience can gradually foster discipline patience and self control.

For instance when it comes to long term investment a consistent strategy like DCA can be very beneficial. This is because it saves you from having to time the market or make emotionally charged decisions based on each price change. The essentials are to develop a realistic course of action that fits an individual's financial means and stick to it for the long term.

Being aware of one's strengths and weaknesses is certainly important. But if a person doesn't have patience and discipline initially it doesn't mean that they cannot invest for the long term. Investing will not make someone a person overnight but I think if they approach their investing with a plan and continue to learn from their mistakes and stay consistent in their investing this can help them develop this discipline and patience

[Barikui1]

I do not entirely agree with the notion that Bitcoin investment cannot instill patience or discipline in those who lack these qualities. Of course simply buying Bitcoin won't make someone disciplined or patient overnight. However I believe that once a person invests their own money the process of monitoring the investment learning and correcting mistakes based on experience can gradually foster discipline patience and self control.

I think that sulegzy39 is right to an extent because it's not everyone that are naturally patient, and when such person invest in Bitcoin, their are chances that he would want to get quick result of his investment, unless he is humble enough to learn and improve himself on that aspect.

Another thing that affects an investor is the mindset he use before investing in Bitcoin, because if an investor is actually those type of investors that believe that they can get rich very quick with their investment, they will easily get frustrated and sell prematurely if Bitcoin is not rising fast with the speed they wanted, but if an investor knows from the very onset that patience and holding for a very long time is the only way he can stand a chance to be successful in it, he would prepare his mind that this or that is what he is signing up for, so the chances of that person being patient will be much higher than the person that just want to get rich quickly, so mindset really do matters.

[Loyang]

Long term investment won’t teach you any patience if you don’t already have patience and discipline in your life as a quality, prior to the time of investing in bitcoin. Not everybody has patience as a quality in life, you will be whom you are after investing in bitcoin. Investing in bitcoin won’t just transform an impatience  man to a patient man.

Patience is something that can really be developed through experience and and a personal quality, cause you won’t expect an impatient person to just invest in Bitcoin and automatically makes the person patient. But following up with a long term plan can help out to control one’s urge to want to react to every price movement.

Given an example, someone can decide to start up with a short term plan but on the long round, he will realize that this buying and selling is not really working out for him. Than will want to find an approach that fit his goal than stick to a strategy. With time you will see that they gradually develop more discipline. So you will see that the experience itself teaches also, so we shouldn’t basically say that patience must have to be in an existence before anyone start to invest.  

If you don't already possess patience and discipline in your life before investing in bitcoin, long-term investing won't teach you any of these traits. You will become the person you are after investing in bitcoin; not everyone is patient. A man who is impatient won't simply become patient by investing in bitcoin. Because of this, some people will tell you that they can't keep their bitcoin for very long. This isn't because they dislike the idea, but rather because they don't have the patience or self-control to do so.

Investing in bitcoin will not change this overnight. They may be able to hold out for a few weeks or months at first, but in the long run, their inherent quality will always prevail. So, before investing in bitcoin, prospective investors should understand their own strengths and weaknesses.

There is no need to try to understand all this before starting investment. The first step that needs to be taken is to start investing. After starting investment, a person should focus on how he can be patient etc. Because as soon as he realizes that he cannot be patient for a long time, he may refuse to invest, so it is necessary to start investing and after starting investing, it is necessary to focus on how he can be patient.

When a person has too much expectation on the market, no matter how patient he is, he cannot hold on for a long time. Because the market does not move according to his expectations, he becomes disappointed and fails to hold on for a long time. Not having any expectation from the market is the best decision.

[Stive009]

I do not entirely agree with the notion that Bitcoin investment cannot instill patience or discipline in those who lack these qualities. Of course simply buying Bitcoin won't make someone disciplined or patient overnight. However I believe that once a person invests their own money the process of monitoring the investment learning and correcting mistakes based on experience can gradually foster discipline patience and self control.

I think that sulegzy39 is right to an extent because it's not everyone that are naturally patient, and when such person invest in Bitcoin, their are chances that he would want to get quick result of his investment, unless he is humble enough to learn and improve himself on that aspect.

Another thing that affects an investor is the mindset he use before investing in Bitcoin, because if an investor is actually those type of investors that believe that they can get rich very quick with their investment, they will easily get frustrated and sell prematurely if Bitcoin is not rising fast with the speed they wanted, but if an investor knows from the very onset that patience and holding for a very long time is the only way he can stand a chance to be successful in it, he would prepare his mind that this or that is what he is signing up for, so the chances of that person being patient will be much higher than the person that just want to get rich quickly, so mindset really do matters.

Of course  a crucial factor in Bitcoin investing is the investor's mindset. But if someone comes into the Bitcoin world with the intentions of making a quick buck or wanting to get rich overnight I would not say that's an investment. In such a case they see Bitcoin as no real investment opportunity but as a quick way to make money due to greed. This kind of attitude can lead to the loss of patience and frustration and to quick and incorrect decisions when the market doesn't behave the way they'd like it to.

That said patience and discipline do not depend solely on innate traits. Even if someone lacks these qualities initially I believe they can be gradually cultivated through the investment experience provided the individual possesses a willingness to learn and correct their mistakes. When a person reflects on their decisions learns and attempts to rectify errors after investing their money their patience and self control are significantly strengthened.

Therefore while mindset is undoubtedly important the notion that patience cannot be developed if it is lacking at the start is incorrect.  In a way it is possible to develop patience and discipline in the long run by avoiding the urge to make quick gains and learning from errors by sticking with a long term strategy.