One Beauty about Bitcoin investment.

[Zaguru12]

The one beauty of bitcoin is that bitcoin makes you financial stable and in shorter period of time you can become millionaire or even billionaire so buy, buy, buy and hold, hold, hold.

I will have to disagree with this because I don’t think bitcoin easily Those any of this. First of all you can never be financially stable with bitcoin alone because it is an investment and not a income generation tool except used in that form like either working and getting paid in bitcoin, doing bitcoin trading earn more bitcoin which we known is a risk on its own or simply mining bitcoin. Also the amount earned in all this are usually proportional to the amount you invest which means there is no financial stability as you have said, but you are earning base on your investment capital.

Also bitcoin cannot turn one into millionaire or something like that in a short period of time, the ideal or agreed consensus is that with a longer term holding of bitcoin and it’s gradual increase in price due to volatility you can earn more of your holdings. The increase of this is also dependent on the amount of money invested initially, so an ordinary thousand dollars investment cannot easily skyrocket to getting one millions, sadly those days of Bitcoin volatility is fast passed now as it is no longer that volatile again

[Zoomic]

The one beauty of bitcoin is that bitcoin makes you financial stable and in shorter period of time you can become millionaire or even billionaire so buy, buy, buy and hold, hold, hold.

Financial stability cannot be achieved with bitcoin in a short period of time. For anyone to attain that level where he can comfortably say he is financially stable, he should first have a predictable steady source of income. Relying solely on bitcoin can not help one attain financial stability considering the fact that Bitcoin price is highly volatile. Remember getting huge returns at intervals does not mean the bitcoiner is financially stable. Can the returns also sustain him during the period when the market is bearish?

There is more to financial stability than just investing in bitcoin. I will not advice anyone who intends to be stable financially to only invest in bitcoins and wait for a short while for the magic to happen. This same bitcoin can also make one very poor if they are not lucky. That is why bitcoin is a high risk investment.

[AmoreJaz]

The one beauty of bitcoin is that bitcoin makes you financial stable and in shorter period of time you can become millionaire or even billionaire so buy, buy, buy and hold, hold, hold.

Financial stability cannot be achieved with bitcoin in a short period of time. For anyone to attain that level where he can comfortably say he is financially stable, he should first have a predictable steady source of income. Relying solely on bitcoin can not help one attain financial stability considering the fact that Bitcoin price is highly volatile. Remember getting huge returns at intervals does not mean the bitcoiner is financially stable. Can the returns also sustain him during the period when the market is bearish?

There is more to financial stability than just investing in bitcoin. I will not advice anyone who intends to be stable financially to only invest in bitcoins and wait for a short while for the magic to happen. This same bitcoin can also make one very poor if they are not lucky. That is why bitcoin is a high risk investment.

A steady source of income is always advisable before venturing into this high volatile market. You won't be at peace with yourself if you know you don't have other means to go to other than your crypto. You may likely end up selling your coins at a loss when you badly need it. As much as possible, invest in tangible assets such as real-estate, precious metals , jewelry and others, if your budget can extend to those assets. Being a high risk investment, bitcoin should not be your sole investment to hold onto.

[fuguebtc]

No matter how difficult a full-time job is , we will still need it and it is an important part of our lives. If someone has no job or no source of income, I also believe that they will not be able to invest in bitcoin or will never invest successfully if they only borrow to invest and do not work .

I can't agree with that. Besides full-time job, there are many other ways to earn money, and quite regularly. Take trading, for example. If you do it well, you can earn not only as much, but also much more than a full-time job. This is especially true for countries with poor, collapsing economies. Then you can invest, not necessarily only in Bitcoin. There are many options for short-term and medium-term investments, the profit from which you can live on and reinvest the investment body.

Trading is also not a job, it is part of the investment field. Have you ever seen someone who can make a steady income from trading? Has anyone ever considered trading as their main job and relied on it to survive and be successful? I guess not many people can do that. Honestly, I have not seen anyone who can survive by investing in bitcoin and relying solely on it for survival. Whether he is investing or trading or even a combination of both.

Also, I disagree when you say that poor countries can earn income from trading, is trading easy to make money?

[SuperBitMan]

I really don't understand your point, now tell me how you will get the money to invest in cryptocurrency if you don't work, it looks like you really don't understand how cryptocurrency investment works because of you do you won't write this.
Before going into cryptocurrency investment you need to have a source of income and you use some part of your salary to invest into cryptocurrency.

I have come to realize that some investors fail in there Bitcoin accumulation journey because they don't have the right mindset before going into Bitcoin investment.
You need to have a source of income before going into Bitcoin investment because Bitcoin investment is not a Ponzi scheme were you can just go into and make profit fast it takes time to grow and that why without having patience and a source of income you can't succeed in Bitcoin investment.

[RockBell]

Trading is also not a job, it is part of the investment field. Have you ever seen someone who can make a steady income from trading? Has anyone ever considered trading as their main job and relied on it to survive and be successful? I guess not many people can do that. Honestly, I have not seen anyone who can survive by investing in bitcoin and relying solely on it for survival. Whether he is investing or trading or even a combination of both.

Also, I disagree when you say that poor countries can earn income from trading, is trading easy to make money?

Their are people who do trading full time even if they don't get money in every trade they still decide to continue and also show a lot of dedication to what they are doing, because no matter what the process of earning might be dedication matters a lot, and even the little you are getting from it will be appreciated and that is why we need to pay a lot of attention especially when we are trading. And if it's about steady income from trading their people that they don't do any other thing than trading and they are doing very well. How you manage what you do matters a lot, and the reason why does who really fully in trading are not many is because a lot of people are running from the kind of responsibility that trading comes with but if you ensure to show dedication you will find it interesting and you will do everything possible to make money from trading. A country been poor does not have anything to do with trading, it's a choice if they want to trade or not and capital is another thing, they might have interest to trade but no capital.

[moneystery]

it's very easy to invest in bitcoin because you don't need to look at the screen all the time, you can set how long you want to hold your bitcoin and leave it in your wallet. but to invest you need money, and to get money you need to work. let's be realistic, you can't make money in a short time on bitcoin investment, and you also can't be sure that tomorrow you can get money from your investment. therefore you need to work, this can be by working in an office, or in another field and then you can get money from work and you can use it as capital for your investments and for your various needs.

[Roseline492]

One beauty about Bitcoin investment is that one doesn't have to stare at a computer all day.
 As many as 40% of American jobs expected workers to pretend to be working while staring at a computer screen and faking a frown, before earning benefits as salaries  from an investment of their time  spaning into years, all day long.

 Compared to how easy an investment in cryptocurrency would pay off well and is a sure hedge against inflation, be it by trading and using or not using bots and AI integrations or by DCA strategy in varying fractions or lump sum or by mining bitcoins and being so serious as to own a mining farm or by diversification of wealth into owning Bitcoin since made possible for large pocket investors too, with the spot ETF approval, it is just fascinating how a crypto investor wont spend as much time staring at their computer screen all day before they make or accumulate wealth by investment in cryptocurrency.

What is your opinion?

Yes, this is definitely a plus, but I am sure that all investors constantly check the price of the asset they invested in. And I think that the larger the amount of invested funds, the more often the investor thinks about these savings.

This is our human psychology, we want to know as soon as possible - how are things going with the invested money?

You are right because I realized that in as much as holders doesn't require checking or monitoring there Bitcoin investment regularly but there are still people who never take off there eyes from there accumulated Bitcoin in a weekly basis, so just like you observed people would always want to see how there investment is doing whether appreciating or not, however monitoring of investment are mostly done by beginners because in most cases they derive joy or motivation from watching their amount of accumulated Bitcoin, meanwhile there are also people who doesn't like watching there accumulated Bitcoin because we have different kinds of investors and some can easily get emotional or discouraged when they are not seeing what they expected, just like what happened during the time Bitcoin was struggling within $55k and so many people that bought during the time it was $70k begins to feel discouraged.

This is our human psychology. It turns out that if someone has invested money, then he admits in the back of his mind that now at any moment his tokens can make x10. And after this, it is very difficult to refrain from constantly monitoring the portfolio balance. And this is wrong. You cannot wait for changes in your life in this way, since this leads to the investor becoming impatient.
And because of this, many invest in bad but very volatile tokens. You need to be patient, and this is the key to success.

Perhaps that's why most people believe that being emotional or curiosity can never be eradicated in the life of human especially when it comes to Bitcoin investment because people would always be curious to know how there investment is going, however the reason why I emphasize that is only the new Bitcoin investors that normally do that is because even when most of them have not started investing on Bitcoin they had already gotten the mindset that there is a higher chance of making a lot from Bitcoin, so after they have invested they would always be curious on checking and monitor there Bitcoin they've accumulated to know if it has generated a lot of profits, though following that method is wrong for someone who intend to go very far on there Bitcoin investment.

[Dr.Bitcoin_Strange]

But since not everyone can be patient enough seeing new investors these days just want get rich quick profits, then it’s never surprising that only few end up successful with bitcoin investment and a lot are losing. The beauty of bitcoin is not just high profitability, but it’s also how convenient it is to invest even without monitoring the market or the screen 24/7.

Someone once said that "the highest risk of investment is when you don't have any knowledge about what you are investing in." If an investor actually has good knowledge about Bitcoin before investing, there's no way they can not make a profit from their investment. Bitcoin is not for anyone who is looking for quick money or quick profit. If you are looking for quick profit in Bitcoin, then you should learn how to trade futures; that's only when you can make a short-term profit from the volatility of the market. A long-term investor is more concerned about the security of their asset while holding patiently until the bull market starts. 

[Blitzboy]

Investing in bitcoin and cryptocurrency is not some passive income source. Though its not a 9-to-5, its not simple either. You have to be on top of things including tech, rules, the market. The fast-paced world we live in cannot be watched from back-off and expected things to happen.

Im all about financial freedom, but that implies a diverse portfolio rather than just Bitcoin. It implies the discipline required to control your investments independent of the state of the market. Thus, while its not the complete picture, crypto can be included into that.

Bitcoin is a fantastic possibility but its not a shortcut. The hard work of remaining knowledgeable, flexible, and ahead of the game is a different sort from other kinds of job. In this new digital economy, success depends on that.

[$weetne$$]

One beauty about Bitcoin investment is that one doesn't have to stare at a computer all day.
 As many as 40% of American jobs expected workers to pretend to be working while staring at a computer screen and faking a frown, before earning benefits as salaries  from an investment of their time  spaning into years, all day long.

I would had agreed with you but there are many other businesses that does not require you to star at your computer all day long. The only business that requires you to star at your computer are online jobs or those that require you to make use of the computer but they are not plenty. There are actually more regular jobs than office jobs and more people are working low paying Jobs like supermarkets attendants and restaurants workers. The beauty about Bitcoin investment is that you do not have to wait as long as you would had waited if you were investing into stocks or bonds. Bitcoin does not waste time to give you profit. Some investors has been holding gold for more than 10 years yet they can not compete with you for profit made from investing in assets because you hold Bitcoin.

[Etranger]

Also, I disagree when you say that poor countries can earn income from trading, is trading easy to make money?

I said not about poor countries earning income from trading. I meant some, not all, of course, people from countries with poor economy making money from trading. That's a big difference. It is clear that trading is not easy at all. But it is possible. And for people from poor countries, the opportunity is very important. After all, they often simply do not have the opportunity to earn even that money that is considered miserable in developed countries. And trading provides such an opportunity. Another question is who will be able to take advantage of this opportunity. Not everyone can do it.

[Ryu_Ar1]

Perhaps that's why most people believe that being emotional or curiosity can never be eradicated in the life of human especially when it comes to Bitcoin investment because people would always be curious to know how there investment is going, however the reason why I emphasize that is only the new Bitcoin investors that normally do that is because even when most of them have not started investing on Bitcoin they had already gotten the mindset that there is a higher chance of making a lot from Bitcoin, so after they have invested they would always be curious on checking and monitor there Bitcoin they've accumulated to know if it has generated a lot of profits, though following that method is wrong for someone who intend to go very far on there Bitcoin investment.

I can't deny it because I did that a few years ago and it slowly became a habit to keep checking the prices and how much ups and downs I felt during my investment every day.

But the longer we are in bitcoin and invest in it I feel that it is not necessary because after all, by continuing to check the portfolio that I have, it makes my feelings difficult to control because overthinking is even greater than my feeling of security when storing in bitcoin.  So, in order to minimize that for now I don't do that too often and even for now maybe when I check the portopolio that I have is when I only add to the load by buying bitcoin. the rest I very rarely do that because I really don't want to be panicked by what I do by continuing to look at prices because I believe that my goal is not now.

[Casdinyard]

One beauty about Bitcoin investment is that one doesn't have to stare at a computer all day.
 As many as 40% of American jobs expected workers to pretend to be working while staring at a computer screen and faking a frown, before earning benefits as salaries  from an investment of their time  spaning into years, all day long.

 Compared to how easy an investment in cryptocurrency would pay off well and is a sure hedge against inflation, be it by trading and using or not using bots and AI integrations or by DCA strategy in varying fractions or lump sum or by mining bitcoins and being so serious as to own a mining farm or by diversification of wealth into owning Bitcoin since made possible for large pocket investors too, with the spot ETF approval, it is just fascinating how a crypto investor wont spend as much time staring at their computer screen all day before they make or accumulate wealth by investment in cryptocurrency.

What is your opinion?

Would quite agree with you on that. Although honestly, in my first few years as a crypto investor I made it a habit to always check my phone for updates on the market, especially for coins that I am holding. Sometimes I even carry over that behavior where I go uneasy if I didn't check binance or my wallet every hour or so.

Although it subsided a good amount these days, I wouldn't say it was gone evident to what I said prior.

In any case, I would highly agree with you. Although investments in general should work like that. Something you could reliably gain profits from without having to check on it regularly. Still, I wouldn't advise subsisting off of your investment profits alone. If you're still young and could work, take the time to get employed and acquire more avenues for profit instead of depending on only one.

[DubemIfedigbo001]

Compared to how easy an investment in cryptocurrency would pay off well and is a sure hedge against inflation,

Not all crypto currencies is a sure hedge against inflation, most alt coin projects aren't a store of value as compared to Bitcoin.

Investment is not easy, you've to source out the funds and not only that, for you to invest rightly in Bitcoin you must not do so with your emergency fund, but with spare funds so you can invest for a longer period of time to be able to get profits from it.

How else do you source funds if not to work and make money? You are advised against borrowing money for Bitcoin investment as its volatility might humble you, so you need to work to raise funds, unless you've some inheritance to sell and invest

be it by trading and using or not using bots and AI integrations or by DCA strategy in varying fractions or lump sum or by mining bitcoins and being so serious as to own a mining farm or by diversification of wealth into owning Bitcoin since made possible for large pocket investors too,

Trading is not investment, and never a means of Bitcoin accumulation, you can also acquire Bitcoin through buying the dip. To be a profitable Bitcoin miner isn't easy too and it's very capital intensive.

How else do you acquire the wealth to invest into crypto without working?

[bubilas]

Perhaps that's why most people believe that being emotional or curiosity can never be eradicated in the life of human especially when it comes to Bitcoin investment because people would always be curious to know how there investment is going, however the reason why I emphasize that is only the new Bitcoin investors that normally do that is because even when most of them have not started investing on Bitcoin they had already gotten the mindset that there is a higher chance of making a lot from Bitcoin, so after they have invested they would always be curious on checking and monitor there Bitcoin they've accumulated to know if it has generated a lot of profits, though following that method is wrong for someone who intend to go very far on there Bitcoin investment.

That's right, in investing in Bitcoin you need to have an absolutely cold mind and a calculated course of action. Recently, everyone was shouting that Bitcoin would be 100k, but what's happening now?
Where is the altseason that everyone was waiting for? And only a few people who trade in a bearish style sit quietly, because their deposit is in stablecoins. We need to not chase the crowd, but be independent.

[SOKO-DEKE]

Their are people who do trading full time even if they don't get money in every trade they still decide to continue and also show a lot of dedication to what they are doing, because no matter what the process of earning might be dedication matters a lot, and even the little you are getting from it will be appreciated and that is why we need to pay a lot of attention especially when we are trading. And if it's about steady income from trading their people that they don't do any other thing than trading and they are doing very well. How you manage what you do matters a lot, and the reason why does who really fully in trading are not many is because a lot of people are running from the kind of responsibility that trading comes with but if you ensure to show dedication you will find it interesting and you will do everything possible to make money from trading. A country been poor does not have anything to do with trading, it's a choice if they want to trade or not and capital is another thing, they might have interest to trade but no capital.

Honestly, making trading your only source of income is not a good idea, and it is very hard to find someone who can solidly rely on trading for survival. Many of these rich traders that we see and hear about on social media already have different sources of income but there just just talk about it. Almost all of them had invested in other ways even before they became traders. So, if an average person wants to focus solely on trading without any other sources of income, they may easily suffer in life.Trading is not that easy to make money from, and even those with proper knowledge and great experience in trading also lose money. What we need to understand is that we should stop believing everything we see on social media, where some people claim that trading is their main source of income.

[hd49728]

Honestly, making trading your only source of income is not a good idea, and it is very hard to find someone who can solidly rely on trading for survival.

Diversify your income resource is good because it helps you to avoid terrible time when you can not have any income at all. When one income resource is bad, you can have one or two other income resources for using.

Many of these rich traders that we see and hear about on social media already have different sources of income but there just just talk about it.

Rich or poor traders, can say many convincing things but if they don't show proof of trades or share market signals, predictions that become accurate later in actual market, you can not trust their words of self-claiming as good traders.

"In God we trust, all others must bring data" is what you should do in life, to verify things, not automatically trust anything.

[JayJuanGee]

Honestly, making trading your only source of income is not a good idea, and it is very hard to find someone who can solidly rely on trading for survival.

Diversify your income resource is good because it helps you to avoid terrible time when you can not have any income at all. When one income resource is bad, you can have one or two other income resources for using.

Many of these rich traders that we see and hear about on social media already have different sources of income but there just just talk about it.

Rich or poor traders, can say many convincing things but if they don't show proof of trades or share market signals, predictions that become accurate later in actual market, you can not trust their words of self-claiming as good traders.

"In God we trust, all others must bring data" is what you should do in life, to verify things, not automatically trust anything.

I agree with your overall point that many times folks are bragging about how much they make on certain trades and blah blah blah.. so there can be ways to make a lot of money on the way up and also on the way down, yet one of the difficulties is being consistent. 

Personally I doubt that there are absolute rules, yet there could be folks who have various sources of income, or even some of the sources of income can be the way that they set up their various income pieces, so if there is enough capital to cover living expenses, then the remainder of the capital can be used for trading or whatever, and there is no worry about having enough for living expenses... Let's say living expenses are in the ballpark of $80k per year or $6,666 per month, then under traditional withdrawal theories, then there would be a need to have at least $2 million in capital and then to draw 4% per year from that. 

Personally I am of the opinion that in bitcoin you can draw 10% per year as long as you are valuating in accordance with the 200-WMA, so you could have in the ballpark of 21.1 BTC and withdraw in the ballpark of $6,666 per month so long as the BTC price stays at least 25% above the 200-WMA, which would mean that the BTC price would have to stay above $47,500 since the 200-WMA is just below $38k, and yeah if the BTC price goes below 25% above the 200-WMA, then it would be better to reduce withdrawal amounts in accordance some kind of a schedule as is mentioned in the link site.

The main point that I am making is that income can come from investments and choices in regards to how necessary diversification is needed are not absolutely settled, since there might not be much need to diversify beyond bitcoin and cash.. so that perhaps during good periods, there could be 1-2 years worth of living  expenses held in cash or various cash equivalents that are likely not going to be correlated with BTC price moves.

At the same time, I agree with the overall point that if there is not a lot of capital then there likely is a need for some kind of a cashflow to cover living expenses at minimum, and then the extent to which various trading strategies are profitable still may well take a whole hell of a lot of time to build from their lower levels to high enough levels that the capital contained therein would be enough to start to draw upon in order to pay for living expenses and without taking away from ongoing needs for trading capital... so yeah, if there is money that is taken out of the trading capital from time to time for living expenses, then somehow that trading capital still needs to be maintained to a high enough level that it is still able to generate profits whether various prices are going up or down, in the event that the trader has figured out systems in which he is able to make money in either direction. but if the prices are not moving at all then the trader might not be making any money.. so I would not even be suggesting that setting up such supposedly always profitable systems is easy and does not necessarily work so well in all market conditions... and frequently traders who are proclaiming that they are profitable in all conditions, they are failing/refusing to actually give details in which it is quite likely that they are not sufficiently/adequately separating out their working capital and their living expenses and also making sure that their withdrawals are within reasonable bounds in which they are keeping their various kinds of funds separated in sufficiently ways that do not overly place risk on what might be their living expenses funds. 

I think that one of the main mistakes that traders will make in accounting for their funds is to consider a living expenses fund to be completely drawable when likely instead the living expenses fund should be sustainable in itself, so my above example of a $6,666 per month income of at least 800k (21.1 BTC) in the case of bitcoin with a 10% withdrawal rate with the caveats described above, and at least $2 million in the case of traditional funds with a 4% withdrawal rate with the idea that the funds are gaining in value at least 4% per year.

[Dzwaafu11]

Compared to how easy an investment in cryptocurrency would pay off well and is a sure hedge against inflation, be it by trading and using or not using bots and AI integrations or by DCA strategy in varying fractions or lump sum or by mining bitcoins and being so serious as to own a mining farm or by diversification of wealth into owning Bitcoin since made possible for large pocket investors too, with the spot ETF approval, it is just fascinating how a crypto investor won't spend as much time staring at their computer screen all day before they make or accumulate wealth by investment in cryptocurrency.

What is your opinion?

Bitcoin Investment did not require checking your computer all day. I think you are referring trading. These two things are clearly different things: trading is what will make you look at your computer all the time and not investment. Also, traders are only taking advantage of the market movement to make money and not mitigating for inflation.

The one beauty of bitcoin is that bitcoin makes you financial stable and in shorter period of time you can become millionaire or even billionaire so buy, buy, buy and hold, hold, hold.

I disagree with this; I have not read this anywhere though. Bitcoin is known for a long-term investment and not a short time. You can't be a millionaire in bitcoin investment in a short period of time; furthermore, there is no guarantee of such investment; you can invest and wait for a long period of time and you will get profit from it. but turning to billionaire or millionaire I don't think so. unless if you invest millions of dollars.