Investment Become Gambling

[Nwaswago]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

I agree. Inspiration can spark curiosity, but conviction comes from understanding. Many people buy Bitcoin after hearing other people's success stories, yet without learning why it has value and how it works, they often sell at the first sign of volatility.
That's why education should come before chasing profits. A disciplined DCA strategy, combined with investing only money you can comfortably leave untouched for the long term, helps remove emotion from the process.

[ZeroVinsonN]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

I agree. Inspiration can spark curiosity, but conviction comes from understanding. Many people buy Bitcoin after hearing other people's success stories, yet without learning why it has value and how it works, they often sell at the first sign of volatility.
That's why education should come before chasing profits. A disciplined DCA strategy, combined with investing only money you can comfortably leave untouched for the long term, helps remove emotion from the process.

As long as you are not pushing for people to have to learn about bitcoin first before they can start buying, I don't have a problem with learning about bitcoin but one mistake people make especially newbies who are nocoiner is that they think that before they can invest in bitcoin they have to learn everything about bitcoin first and that mentality is wrong, all you need to be able to start buying bitcoin is your discretionary income, once that has been figured out then you can start buying bitcoin with it, you don't need to be aggressive from the start, you can simply use one third of your discretionary income to buy bitcoin, if you didn't already have your backup funds then another one third of your discretionary income should also be used to set it up, what you do with the last one third is completely your choice as an investor.

[Alonso_]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

[liasbaa]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

I agree. Inspiration can spark curiosity, but conviction comes from understanding. Many people buy Bitcoin after hearing other people's success stories, yet without learning why it has value and how it works, they often sell at the first sign of volatility.
That's why education should come before chasing profits. A disciplined DCA strategy, combined with investing only money you can comfortably leave untouched for the long term, helps remove emotion from the process.

This is the beginning of a problem for new investors because they are in the mood to get rich in a short time. In fact their motivation is very short lived. They think that the knowledge they have gained about Bitcoin is enough in the short term. They start taking risks without any backup funds available. If it is easy for you to start accumulating Bitcoin out of curiosity it will not be difficult to run DCA method in the long term. Just make sure you have discretionary income at the end of the week. Having a small amount of discretionary income every week is a great way to stay consistent in accumulating Bitcoin. You do DCA without having to learn much before starting Bitcoin because you have a lot of time available to learn about Bitcoin.

[Jasmyne]

Year 2023. I started investing in Bitcoin. The market has fluctuated many times until now. However, I have always had a long-term goal. Although I had to sell once due to circumstances, but I started investing again.

However, a few weeks after my investment, a close friend of mine also started investing. He also talked about long-term investment. Our goals were similar. However, even though the goals were the same, our behavior was not the same over time, and this is where the difference between investment and gambling was created.

He start take profits when price increased. After doing this a few times, he started monitoring the market regularly and analyzing the opinions of YouTube and Telegram. At one point, he started making decisions with the market fluctuations. Sometimes he would buy out of FOMO and sometimes he would sell out of panic. In this way, he would make profits at times and sometimes he would lose.

 Even when I warned him about such behavior, he  misunderstand me that maybe I did not want to let him make a profit.
However, at one point, after significant financial loss, he realized his mistake. The problem was in his behavior.  He had the ability to continue investing well in the long term and even though he started investing with this intention, due to his inability to control his behavior, the investment turned into a gamble. 

Do you think that mental and behavioral control are similar important with financial management, risk management  in investing?

✨

Experience is the best teacher and experience also allows people make mistakes and learn from their mistakes also, that’s why you should never force anybody to make any decision in bitcoin investment. People are entitled to their decision and with time they will get to learn if they took the right or bad decision.

If long term is the goal, stick to long term and I will highly recommend long term. But to maintain long term, financial discipline is important, patience is important and lastly self control is important because they will help you stay focused.

[sotelorene]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

I agree. Inspiration can spark curiosity, but conviction comes from understanding. Many people buy Bitcoin after hearing other people's success stories, yet without learning why it has value and how it works, they often sell at the first sign of volatility.
That's why education should come before chasing profits. A disciplined DCA strategy, combined with investing only money you can comfortably leave untouched for the long term, helps remove emotion from the process.

This is the beginning of a problem for new investors because they are in the mood to get rich in a short time. In fact their motivation is very short lived. They think that the knowledge they have gained about Bitcoin is enough in the short term. They start taking risks without any backup funds available. If it is easy for you to start accumulating Bitcoin out of curiosity it will not be difficult to run DCA method in the long term. Just make sure you have discretionary income at the end of the week. Having a small amount of discretionary income every week is a great way to stay consistent in accumulating Bitcoin. You do DCA without having to learn much before starting Bitcoin because you have a lot of time available to learn about Bitcoin.

The moment you start risking in Bitcoin it means that you are no longer investing in Bitcoin but trading or gambling with Bitcoin because a trader will not risk anything simply because they feel they can outsmart the market. However, anyone who is risking in Bitcoin doesn't really need backup funds because they are already not Investing and the truth is that the chances of the person becoming successful in that will be very little because in trading you can burn your account just in a minute.

[Halifat]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

It is very important to have a discretionary income when you come to invest in Bitcoin because it is not a short time investment that you would like to risk everything, it is very dangerous for anyone to invest in Bitcoin outside is discretionary income because you have putting something that will harm your investment, if the necessary things that need to be done arises you can see that you have no choice rather than to Deep hand into your investment, in this case it is very dangerous because you don't know what the price might have been at that particular time, but most time the price used to be down and that is how you lose part of your investment.

[GIF-JOBS]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

If someone invests only out of greed, looking only at the success of others, then their investment will never be able to survive the reality of the market, because their investment made out of greed and excitement will lead to wrong decisions as soon as they see the market volatility. If we want to consistently sustain investment against market volatility, we must first understand the market realistically, when an investor makes an investment decision after considering the risk well, then market volatility cannot easily upset him. Finally, you should never invest beyond your capabilities, because taking excessive risks can put you under a lot of mental stress, where you will be more likely to face failure.

[Jostern]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

I agree. Inspiration can spark curiosity, but conviction comes from understanding. Many people buy Bitcoin after hearing other people's success stories, yet without learning why it has value and how it works, they often sell at the first sign of volatility.
That's why education should come before chasing profits. A disciplined DCA strategy, combined with investing only money you can comfortably leave untouched for the long term, helps remove emotion from the process.

As long as you are not pushing for people to have to learn about bitcoin first before they can start buying, I don't have a problem with learning about bitcoin but one mistake people make especially newbies who are nocoiner is that they think that before they can invest in bitcoin they have to learn everything about bitcoin first and that mentality is wrong, all you need to be able to start buying bitcoin is your discretionary income, once that has been figured out then you can start buying bitcoin with it, you don't need to be aggressive from the start, you can simply use one third of your discretionary income to buy bitcoin, if you didn't already have your backup funds then another one third of your discretionary income should also be used to set it up, what you do with the last one third is completely your choice as an investor.

Newbies should learn how to invest in Bitcoin without thinking about learning everything about Bitcoin, because that is where the problems and challenges comes into play, personally I don’t see any reason why I should be waiting to have all necessary knowledge before getting started with Bitcoin, that is a very terrible thing to do as a newbie who is trying to get started with investing in Bitcoin, there is no way you can learn everything before getting started with Bitcoin, instead it should be more about getting started and having a discretionary income, however you will always learn things about Bitcoin along the line as you keep investing and growing with buying and accumulating bitcoin, you can start buying immediately.