Bitcoin Accumulation Isn't a Competition, Focus on Your Own Journey

[Donk1]

 For most Bitcoin or crypto enthusiasts they can easily get intimidated with what they hear and see online which if I may is actually a bad mentality At times you have to look beyond what you see on any social media Yes  it's good to stay active and get new information/news and do quality research  but but never get caugh  up with words like I own a large portion of Bitcoin ,or i have been investing for years now and my investments have been going smoothly. No  you shouldn't because most of them who are saying that might either be lying jusst to get people's  attentions on their social media account and you listening to them might make you lose focus on learning. The only thing you will believe is what  they said and If that happens  all your focus will now be on how you can be like that.  competing with someone you don't even know and don't know you. Most times  it could even be a friend  Because the guy made it or he or she is always telling you how profitable his investment is you yourself will now be trying as much as possible to reach where he is indeed that's a wrong move.That's why Bitcoin investment isn't about who gets rich first. No, it's a journey that you have to pass alone. Focusing only on your  own future achievements.

However  every investor  has different starting points and different goals. For example... Everyone has different savings and source of income  so never compare yourself with someone else because our goals as Bitcoin investors differ a lot. The  time you buy isn't the  same time another person or maybe your friend, buys  so there shouldn't be a competition, because it might even lead to discomfort in the mind which  can often lead to  psychological effects in investing making you take irrational decisions.

Focusing on what you can do as a Bitcoin investor.

Instead of worrying about how you surpass others, you should take that time to focus on your own plans by implementing a well known strategy like the DCA Dollar Cost Averaging. And because of that  you must:
1).Set a budget that will help you decide on the amount of money you are willng  to invest on a regular, and that money should never be borrowed money or cash that you will need urgently..

2). Follow your strategy no matter what  even if the price of Bitcoin goes up or down, stay on track and buy according to your plans.

3).Lastly  when you are patient with your investment as time goes jyou will see  that all those small amounts you have invested on a regular will be a significant big amount. by not trying to time the market and as well not competing with people you will see yourself growing gradually.

Furthermore  to simply end the topic  the goal of investing should nnever be to be richer or truly to be better than someone. Having peace of mind is what will set one on a right path  because then you won't be risking money you can't afford to lose  and anything like competition won't be in your mind. That's why in the  world of Bitcoin  the only person you should be trying to compete with is yourself being better than your yesterday. That's just it .take your time stay consistent, and focus on your own journey........

[I_Anime]

No one is doing competition with you , you choose to pressure your by yourself the only competition btw yourself and no one else , when come to bitcoin . But you can be inspired by others wins and progress and use it as an instrument of growth and determination, that’s why I tell folk that you can start accumulating with any amount you can afford. No one is forcing anyone to go beyond their budget accumulate according to your convenient.  Because if you try to go faster with over aggressive buying you only ruin your investment too early .

[Y3shot]

Investing bitcoin the first thing to have in mind is to invest what you can afford to lose, if you go in with the mindset of just investing without any plans of fund of your ability, and you just want to invest to meet up with other people, it will surely become a failed investment if one is not careful. Investment is not a thing of competition, it is all about a thing of what you can afford. we all have our own financial strenght and if you exceed it , then it becomes impossible to keep investing.

[fredericktaylor]

Gain knowledge about Bitcoin and move forward according to specific destination or plans, make small investments consistently according to your ability and Use discretionary income for long-term retention, Investing in Bitcoin without showing off or a specific plan is absolutely stupidity. Do not make any decisions based on the words of others, continue to research, gain knowledge, take action accordingly, do not give up.Your knowledge can gradually lead you to specific destination.

[Sim_card]

Just as we are different in names, region and family is the same way our income are not the same. If our income is the same, our expenses can never be the same. This is why there's no competition in life but proper financial management is needed for you to invest based on your own discretionary income. Bitcoin investment shouldn't be seen as a competition, accumulate bitcoin with your discretionary income and be consistent with your DCA. If your discretionary income is small, cut down your expenses and look for a second means of income.

[bitbollo]

You had to see btc as another way to save your funds. In the past people were buying houses or shining rocks (like gold or silver).
Nowadays you can use a new medium of value, probably more efficient and even cheap (you can store for free).
You should never force this kind of savings. The best approach could be a "planned approach" . Plans your savings your expenditures, and follow the fun!

[Hewlet]

Furthermore  to simply end the topic  the goal of investing should never be to be richer or truly to be better than someone. Having peace of mind is what will set one on a right path  because then you won't be risking money you can't afford to lose  and anything like competition won't be in your mind.

You can invest with the aim of being richer and not still see other investors as your competitor and can as well compete to be better positioned as an investor and do it in a reasonable way. competition is actually not a bad thing if we go about it the right way. there are times when you will need to compete with other people just so you push yourself above your limit and it becomes easier for you to grow your portfolio faster than you would have done if you hard depended on yourself.

As much as your ability to stay discipline  can carry, try your best not to brag about the amount of bitcoin you are holding in the public and do not allow the fact that you are holding an higher amount of bitcoin than others get into your head such that you end up putting yourself in problem just because you want to satisfy your ego.

[macson]

1).Set a budget that will help you decide on the amount of money you are willng  to invest on a regular, and that money should never be borrowed money or cash that you will need urgently..

Investments need to be managed so as not to burden our finances, and therefore, only invest discretionary income, not borrowed money or money needed for urgent needs. Because the goal of investing is to gradually build wealth, it's not a race where people aggressively invest their money in the hope of making a quick buck.

If someone thinks they can make a quick profit using borrowed money or money from urgent needs, they will ultimately only end up with significant losses and disappointment because the pressure to make immediate profits will lead them to make poor decisions.

[tech30338]

I think others are busy accumulating bitcoin, they have no business or racing with someone to have more than others, the job is to have more bitcoin as possible in a lower price meaning people have to wait for the dip not buy when the price are at the top, its not accumulating its throwing money in the air, what will happen is you will end up, selling, buying the moment you realized the value of the money you are saving decreased, focus on your goal, other people have their own battles, so focus on yours.

[Catenaccio]

I think others are busy accumulating bitcoin, they have no business or racing with someone to have more than others, the job is to have more bitcoin as possible in a lower price meaning people have to wait for the dip not buy when the price are at the top, its not accumulating its throwing money in the air, what will happen is you will end up, selling, buying the moment you realized the value of the money you are saving decreased, focus on your goal, other people have their own battles, so focus on yours.

It's a race, always, even you see it as a race or not. However, this race has two main steps: buying, accumulating bitcoins; and holding your bitcoin for profit. It's clearer now that accumulation is good but not enough if you can not hold your bitcoin a long time or better hold it longer time than the others for better profit.

It means you can win in a first race part, by starting your investment earlier and accumulating more bitcoins than the others, but you can fail in a second race part, and at the end, you have less profit than late comers in this market. So, don't feel bad if you join this market later than the others, you can win against them by accumulating bitcoins determinantly and holding your bitcoins with good vision.

[ginsan]

1).Set a budget that will help you decide on the amount of money you are willng  to invest on a regular, and that money should never be borrowed money or cash that you will need urgently..

Investments need to be managed so as not to burden our finances, and therefore, only invest discretionary income, not borrowed money or money needed for urgent needs. Because the goal of investing is to gradually build wealth, it's not a race where people aggressively invest their money in the hope of making a quick buck.

If someone thinks they can make a quick profit using borrowed money or money from urgent needs, they will ultimately only end up with significant losses and disappointment because the pressure to make immediate profits will lead them to make poor decisions.

Investment is the final stage where all your needs have been met and you don't want the value of your money, which is the remainder of all your needs that have been met, to gradually decrease due to the depreciation of your fiat currency. Therefore, investment is a good way to maintain and increase the value of your remaining money, and that is why investment is an activity that must use cold funds.

There is no such thing as quick and easy money in this world. If there is, the risk involved in that asset is certainly very high. That is the wrong way of thinking about investing. Investing is about building wealth slowly. I strongly agree with that, and we need to look at the risks of every asset we buy, including bitcoin. It must be based on risk management and our capabilities. Discretionary income is a good indicator of the finances you should allocate to investing in Bitcoin. Remember, don't rush to make quick profits in investing. Just be consistent, like Warren Buffett. He didn't accumulate his shares all at once when he started, but gradually and took advantage of momentum.

[Jubilee58]

For most Bitcoin or crypto enthusiasts they can easily get intimidated with what they hear and see online which if I may is actually a bad mentality At times you have to look beyond what you see on any social media Yes  it's good to stay active and get new information/news and do quality research  but but never get caugh  up with words like I own a large portion of Bitcoin ,or i have been investing for years now and my investments have been going smoothly. No  you shouldn't because most of them who are saying that might either be lying jusst to get people's  attentions on their social media account and you listening to them might make you lose focus on learning. The only thing you will believe is what  they said and If that happens  all your focus will now be on how you can be like that.  competing with someone you don't even know and don't know you. Most times  it could even be a friend  Because the guy made it or he or she is always telling you how profitable his investment is you yourself will now be trying as much as possible to reach where he is indeed that's a wrong move........That's why Bitcoin investment isn't about who gets rich first. No, it's a journey that you have to pass alone. Focusing only on your  own future achievements......

However  every investor  has different starting points and different goals. For example... Everyone has different savings and source of income  so never compare yourself with someone else because our goals as Bitcoin investors differ a lot. The  time you buy isn't the  same time another person or maybe your friend, buys  so there shouldn't be a competition, because it might even lead to discomfort in the mind which  can often lead to  psychological effects in investing making you take irrational decisions.........

Focusing on what you can do as a Bitcoin investor............

Instead of worrying about how you surpass others, you should take that time to focus on your own plans by implementing a well known strategy like the DCA Dollar Cost Averaging... And because of that  you must:
1).Set a budget that will help you decide on the amount of money you are willng  to invest on a regular, and that money should never be borrowed money or cash that you will need urgently..

2). Follow your strategy no matter what  even if the price of Bitcoin goes up or down, stay on track and buy according to your plans..

3).Lastly  when you are patient with your investment as time goes jyou will see  that all those small amounts you have invested on a regular will be a significant big amount. by not trying to time the market and as well not competing with people you will see yourself growing gradually...

Furthermore  to simply end the topic  the goal of investing should nnever be to be richer or truly to be better than someone. Having peace of mind is what will set one on a right path  because then you won't be risking money you can't afford to lose  and anything like competition won't be in your mind. That's why in the  world of Bitcoin  the only person you should be trying to compete with is yourself being better than your yesterday. That's just it ......Take your time stay consistent, and focus on your own journey........

You are very much right, bitcoin investing is never a wrestling bout where you would want to defeat your opponent, but a personal journey , so you decide when and how you want to go about it.
As someone who is interested in accumulating bitcoin, you do that based on you strength, your financial ability, if you are not buoyant financially, start small and do not be discouraged by those who  are investing very big amount of money, and sometimes it could be that they started earlier than you, so trying to be like them from the beginning might be discouraging to you.

Meanwhile, as a bitcoin enthusiast your little beginning can actually fetch you something very huge in the future if only you can remain consistent and focused in your bitcoin journey.

There are some strategies one can deploy to succeed while accumulating your bitcoin.

You can decide to set a portion of your income aside and use it to accumulate your bitcoin, and if you are consistent with this method, before you know it, you will gather reasonable amount of bitcoin.

Use reputable exchanges in your bitcoin accummulation, as a reputable exchange can enhance the security of your bitcoin as you store it in their cold wallet, and also enable you to lockup your bitcoin for a period of time in other to have some reward from your locked bitcoin.

While accumulating your bitcoin, have a clear goal for your bitcoin investment, decide if you are in the business for term or for long term period, but it is advisable to accumulate your bitcoin with long time goal, because historically, bitcoin is known to deliver huge profit when you invest for long term.

[Dogedegen]

In a way you are right, but in another way you are completely wrong. It absolutely is a competition. Everything about capitalism and the modern world is about competing. A globalism includes everyone in the world and as we have more and more inflation that means that the competition is heating up. Either you will be riding the wave as a champion or you will sink along with most people. You don't get to choose whether it is a competition or not! You merely get to decide if you want to be competitive or not. In either way you are part of the competition. I think a lot of people have an issue with this realization that this is completely out of their control and there is nothing that they can do about it.

Bitcoin's supply is limited, its price continues to rise and more and more people show a desire to acquire it. This means that if you don't act now and do a lot of work the amount that you can acquire in your life will continue to shrink.

[SmartGold01]

Investment is a choice and whether you invest and another invest doesn't mean they are doing competition but they are solely doing their investments, and it's their choice to invest in Bitcoin also Bitcoin is an open assets for everyone which they could also invest than any other choices of investment. Although, I am picking up this answer based on your post title as most time title easily expressed the body of the content. Anyone can decide to invest in any coin they want just that it is just a wish for them to chose whatever investment they want, someone investing on altcoin doesn't mean that person doesn't know what they are doing or someone investing in Bitcoin has the utmost sense and reasoning, it's just a choice and how quickly they wish make profits from.

[Zoomic]

No one is doing competition with you , you choose to pressure your by yourself the only competition btw yourself and no one else , when come to bitcoin . But you can be inspired by others wins and progress and use it as an instrument of growth and determination, that’s why I tell folk that you can start accumulating with any amount you can afford. No one is forcing anyone to go beyond their budget accumulate according to your convenient.  Because if you try to go faster with over aggressive buying you only ruin your investment too early .

Is one even supposed to know that you are accumulating bitcoin? let alone to compete with you. Bitcoin is a coin that encourages privacy and security. So going around to announce to people and inquire how much how neighbor or friend invested in order to to surpase him is a total waste of time.

There is DCA which encourages everyone to invest as they can, as they earn and as it will not affect them. So, doing it in private gives more peace of mind than being in competition with anyone. I wish Op will read your response and learn more.

[retaur]

Yes. Buying low and selling high does better than hodling but it takes more demands than hodling does.

Hodling and dcaing to hodl have both done well in the past but you're unlikely to 10x by holding alone over the span of a year or a cycle. You're far more likely to do that with an altcoin you've found that does what it says (but don't get distracted by confirmation bias and check the teams - most valuations are hard to predict by newbies and often can be factored in in advance).

[Itz-prisigold]

Fact bro, you really said it well. What you've said really highlights a problem many investors face. But sincerely , I think the greater problem is that many people jump into Bitcoin even without knowing why they are doing it. A lot of novice get lost not only because of comparison, but because they did not really define why they are investing in the first place.

Before you even start buying anything, you have to know your goals. Are you investing for long term financial freedom or simply because you hear others talking about it? When you have gotten a clear reason for investing, you won't be easily shaken by publicity, fear or what others post.

And another thing, Bitcoin will definitely test your emotions like crazy. One minute the price is going up, the next minute it's going down. If you can't control your emotions, you will definitely panic, sell or start chasing losses. That is the place where patience and discipline comes in.

At the end , the goal it's not about who gets rich quick, it's all about who is smart, stay cool and keep learning, instead of competing or comparing, just stay focus on understanding the system and self improvement

[Youngrebel]

Exactly. Many people want to acquire bitcoin because their friends have invested in good number of bitcoin. But you have to ask yourself the kind of job your friend is doing to buy bitcoin. According to a saying "Cut the coat according to your size". Invest in bitcoin whatever you have and not to follow others. And the best way to invest is DCA. You can buy $20 every week or month to acquire your bitcoins gradually.

[Bright0515]

And investor should not try to compete with anyone because every investors have their standards and financial status. I think new investors will want to compete with the old investors which is why they make many mistakes. Old investors knows the market very well because they have been into it for long time so they understand the market, but new investors that might want to compete with the old investors get panicked when Bitcoin dip.

Exactly. Many people want to acquire bitcoin because their friends have invested in good number of bitcoin. But you have to ask yourself the kind of job your friend is doing to buy bitcoin. According to a saying "Cut the coat according to your size". Invest in bitcoin whatever you have and not to follow others. And the best way to invest is DCA. You can buy $20 every week or month to acquire your bitcoins gradually.

Joining an investment because your friends are doing it is not bad but it can affect the person when he put in competition between him and his friends. Although the word nowadays is all about competition. So many people with potentials have also belittled themselves because they can not afford what their friends can.

[Obim34]

Furthermore  to simply end the topic  the goal of investing should nnever be to be richer or truly to be better than someone. Having peace of mind is what will set one on a right path  because then you won't be risking money you can't afford to lose  and anything like competition won't be in your mind. That's why in the  world of Bitcoin  the only person you should be trying to compete with is yourself being better than your yesterday. That's just it ......Take your time stay consistent, and focus on your own journey........

In my opinion, the end point of every investment is to make profits including Bitcoin. I'm not into Bitcoin because i was pressured, saw the trend or trying to compete among those who made me learnt and become interested about Bitcoin.

Investors should understand that "it is not just of he that started (invest) but of he that finish well (profit)", the whole process of accumulation won't be said to be complete if investors at the end do not make profits or lacks patient through the whole process till his/her investment is mature enough for profits.

If you don't see the utility in any investment don't risk it, not minding with highest potential of must returns, an investor must be knowledge about the pros and cons of every investment, a healthy investment strategy will always pass through every cycle without crashing.