Why Patience Often Beats Action in Bitcoin.

[Joy- maker]

When I first started with bitcoin a few years back I felt pressured to act all the time. Buy now, sell now, check the price every hours it never ends. So what I realised over time is that sometimes doing nothing can be the smartest move as a beginner to bitcoin, Because bitcoin moves fast and News spread quickly.

And I also came to realise that Beginners often act on fear and hype, instead of thinking clearly. But the truth is that, as a beginner to bitcoin rushing to act without thinking clearly often leads to mistakes that can be impossible to undo, That is why the best action sometimes is patient.

So for that reason it is important for beginners to learn more before investing, wait and think before making big decision, because if you make wrong decision as a beginner to bitcoin you may end up not becoming successful in your bitcoin investment journey. Further more observe trends without reacting emotionally, because reacting towards trends emotionally can lead to making impulsive decisions and later land yourself in big mess so bad for a beginner to bitcoin. And the mindset that doing nothing is sometimes the best Bitcoin decision makes sense from my perspective.

So what about you guys what do you think from your own perspectives?

Secondly Have you guys ever gained more by waiting than by acting too quickly in Bitcoin?

[Outhue]

Learn first invest later can be very hard if you are in the midst of friends who are already investors, they can keep encouraging you to find money and start investing, you do have a point but it's not that easy, if you already have some money that you can use to invest you will be feeling like you are missing out.

My own story is different, because I never had money when I started to know Bitcoin, I instead took my time to learn alot about Bitcoin, I believe it was possible because I had no money, I joined many Airdrops and also accumulate some free Bitcoin through faucets, things are different today.

If I have to advice someone on this, I would tell them to create time, if they choose to DCA into Bitcoin and keep learning they are still doing it right, because. DCA requires small amount of money every month or week, there is enough time to learn all you want to learn about Bitcoin.

[Alvin_talk]

Mmm...I don't think 'doing nothing' is the best phrase to use here, 'learning' should have been a better term to use IMO.

Well, for those who will be diligent enough to learn before investing, I recommend the following resources:

• JJG's Bitcoin Investment Ideas (Sustainable Withdrawal / Portfolio Maintenance)
• Buy the DIP, and HODL!

These resources will guide on investment strategies and also help you identify the difference between trading and investment.

[SilverCryptoBullet]

And the mindset that doing nothing is sometimes the best Bitcoin decision makes sense from my perspective.

So what about you guys what do you think from your own perspectives?

There are times you need to do many things like working for money, saving your money, using discretionary income for investment, and securing your bitcoins rightly.

There are other times you don't have to do anything because the market is bearish and boring, while it is good time if possible you need to accumulate more bitcoins. This is such time if you don't accumulate bitcoin more, just hold your bitcoin and wait for a return of bull market to make profit for your portfolio.

There are long term investors even don't mind of taking profit in one market cycle, and they simply accumulate, other than that they do nothing else because they know if they can hold their bitcoins, Bitcoin works for them.

This pyschological chart shows this "do nothing time" too.
Pyschological pitfalls of market cycle.

[Alpha Marine]

Learn first invest later can be very hard if you are in the midst of friends who are already investors, they can keep encouraging you to find money and start investing, you do have a point but it's not that easy, if you already have some money that you can use to invest you will be feeling like you are missing out.

Yeah, it's not easy if you already have money to invest, but it is still better to learn first before investing instead of investing before learning. If you don't learn before investing, you will lose that money you invested and still might not learn because you might consider it a waste of money.
Bitcoin is not something that requires a year to know the basics. Within a week or at most a month, you can read all you need to know and understand the basics. Before going into any investment, it's best to know what you're going into. It's not just Bitcoin.The same people don't put money into business they don't understand, it's the same way they shouldn't put money into an investment they don't understand. At least they should know the basic.

[Dechris_08]

Ironically, the hardest Bitcoin skill to learn isn’t buying or selling.

It's patient.

The crypto market punishes emotional speed and rewards calm conviction over time.

I’ve personally gained more by not touching my holdings during hype cycles than by trying to outsmart the market.

Curious how others here define the line between patience and missed opportunity.

[Joy- maker]

Mmm...I don't think 'doing nothing' is the best phrase to use here, 'learning' should have been a better term to use IMO.

Well, for those who will be diligent enough to learn before investing, I recommend the following resources:

• JJG's Bitcoin Investment Ideas (Sustainable Withdrawal / Portfolio Maintenance)
• Buy the DIP, and HODL!

These resources will guide on investment strategies and also help you identify the difference between trading and investment.

You should try and read carefully, and be sure you understood what the person is saying next time before commenting. Because assuming you read my thread carefully to understand the angle am coming I don't think you will be making such comment, but that's by way.
Here is what I said in summary. When I first started with bitcoin as beginner I made impulsive decisions out of fear and hype. Even when I don't have leftover money (discretionary income) I felt pressured to buy all time. As in  back then, I actually felt FOMO. And I have also seen a lot of beginners who are currently feeling pressure to buy all the time even when they don't have leftover money to purchase Bitcoin. So after reasoning my ass out I came up with this phrase "why doing nothing is sometimes the best Bitcoin decision" so instead of forcing a buy through DCA just do nothing and stay patient.

[LastKiss]

Zoom out and we will get our answer

While doing nothing may sound easy, the truth is that it’s never really that easy especially in the early stages, we are constantly facing a lot of FUD people saying Bitcoin will go to zero, ongoing uncertainty and various regulations coming from different countries. All of these things can test our patience and conviction. Holding Bitcoin as a long-term investment has helped me gain far more than trying to speculate on short term price movements. Instead  guessing where the market is going, simply keep buying and accumulating over time(DCA) has proven to be a more effective strategy for me. However, due to personal reasons, I need to sell a portion of my Bitcoin.

Many people are afraid to HODL and do nothing because they fail to zoom out and look at the bigger picture. They focus too much on short-term, low time frame price movements rather than long term trends. This attention to short term volatility and FUD, often leads to fear, emotional decisions and negative thinking, even when we zoom out the chart.

[Charles-Tim]

The topic title looks confusing. You mean after someone has bought bitcoin, the person should not sell but just be patient, that the price of bitcoin will increase and the person will not sell in loss. If that is what you are talking about, it is true. It is better than being patient of waiting to buy bitcoin, thinking its price will fall and you will buy at the low price. I do not see buying of bitcoin and not sell it fast as patience, I see it as holding.

[Alvin_talk]

You should try and read carefully, and be sure you understood what the person is saying next time before commenting.

Oh! My bad, I missed the perspective of your thread, it happens sometimes, lol.

Here is what I said in summary. When I first started with bitcoin as beginner I made impulsive decisions out of fear and hype. Even when I don't have leftover money (discretionary income) I felt pressured to buy all time. As in  back then, I actually felt FOMO. And I have also seen a lot of beginners who are currently feeling pressure to buy all the time even when they don't have leftover money to purchase Bitcoin. So after reasoning my ass out I came up with this phrase "why doing nothing is sometimes the best Bitcoin decision" so instead of forcing a buy through DCA just do nothing and stay patient.

IMO, the only time to do nothing is the best bitcoin decision is if you don't have a source of income at all, forcing yourself to buy bitcoin at such situation will result to debt. But if you have a monthly source of income, even if it is small, I believe that with discipline you should be able to cut your expenses and provide a little room for descretory income.

Let's say your monthly income is $1000, a disciplined fellow who really care about building a bitcoin portfolio should be able to have a left over of 20% of his monthly income as savings which he/she can now invest most portion in Bitcoin.

Again, personally, the only time FOMO becomes a concern to me is when I am trading instead of investing .Trading is where timing, price movements, and short-term emotions matter a lot but in bitcoin investment, there is no best time to buy, so long as you have the money to accumulate, keep doing so, it doesn't matter whether the price is high low, so long as you intend on holding for a long period, price fluctuations become less important.

[Free Market Capitalist]

So what about you guys what do you think from your own perspectives?

This is usually the case with any investment, not just Bitcoin. There are exceptions, such as if you know the real estate market very well and the opportunity arises to buy a house below market value, but for ordinary people, it doesn't matter whether you're investing in Bitcoin, the stock market, or gold, slow and steady wins the race.

[Tmoonz]

Learn first invest later can be very hard if you are in the midst of friends who are already investors, they can keep encouraging you to find money and start investing, you do have a point but it's not that easy, if you already have some money that you can use to invest you will be feeling like you are missing out.

My own story is different, because I never had money when I started to know Bitcoin, I instead took my time to learn alot about Bitcoin, I believe it was possible because I had no money, I joined many Airdrops and also accumulate some free Bitcoin through faucets, things are different today.

If I have to advice someone on this, I would tell them to create time, if they choose to DCA into Bitcoin and keep learning they are still doing it right, because. DCA requires small amount of money every month or week, there is enough time to learn all you want to learn about Bitcoin.

If the money is already there to invest then the learning process becomes more easier because starting of buying beautifies the learning process than wasting time waiting to learn so many things when are alot to learn in the process perhaps you cany learn it all but for those that doesn't have money already spending time to learn or know Bitcoin will encourage them too to work even harder to get their financial life improved so they can implement what they know or are learning, it all depends on the current situation your found yourself and your level of orientation either on your own or from those around you.

[Joy- maker]

The topic title looks confusing. You mean after someone has bought bitcoin, the person should not sell but just be patient, that the price of bitcoin will increase and the person will not sell in loss. If that is what you are talking about, it is true. It is better than being patient of waiting to buy bitcoin, thinking its price will fall and you will buy at the low price. I do not see buying of bitcoin and not sell it fast as patience, I see it as holding.

Since the title of my thread is looking somehow confusing as you said, I decided to change it to a more clear one for easy understanding.
Over time I came to realise that beginner to bitcoin often act on fear and hype instead thinking to figure out what to do next. Beginner to bitcoin force buy because of FOMO, even when dey don't have leftover money to purchase Bitcoin, And some panic sell when price drop. So after reasoning things from my perspective I came up with the phrase why doing nothing is sometimes the best Bitcoin decision, so instead of rushing to act it's better to stay patient and wait no matter what.

[Hypnotizer]

The new title for this discussion is actually much better than the former one..btw I always emphasize on being patient not only in bitcoin investment but in every aspect of life, when you have a plan for Hodling long-term you actually don’t need to stress yourself checking the price every single time because you shouldn’t bother about what the price is right then since you wouldn’t sell anytime soon.

So for that reason it is important for a beginner to learn more before investing, wait and think before making big decision, because if you make wrong decision as a beginner to bitcoin you may end up not becoming successful in your bitcoin investment journey. Further more observe trends without reacting emotionally, because reacting towards trends emotionally can lead to making impulsive decisions and later land yourself in big mess so bad for a beginner to bitcoin. And the mindset that doing nothing is sometimes the best Bitcoin decision makes sense from my perspective.

Verily, if you react to the market with emotions..in most cases it will always lead you to bad decisions and that’s why as a long term Hodler or investors, you should not bother much with checking the price instead put that effort in finding more ways to protect your investment from scammers, hackers and the likes of them.

 

[Merit.s]

Secondly Have you guys ever gained more by waiting than by acting too quickly in Bitcoin?

One good thing about bitcoin investment is that you can buy and be learning along side as you build your portfolio. I feel that if you have figured out that you have your discretionary income, you can buy because you improve your knowledge through practice. Bitcoin knowledge is very broad, you only need the basic knowledge to buy your first bitcoin.

I don't like waiting provided I have the funds because the price increases overtime, just buy and continue with whatever knowledge you want to gain about bitcoin. Don't forget that an emergency funds is very important to backup your bitcoin investment.

[Itz-prisigold]

From experience, patience in Bitcoin is more about being discipline and not losing control. When I was new, I got the feeling that I had to do something anytime I see that prices changed or that there was news to read, but most of the reasons to do something were motivated by consumer fear or excitement, most times when I keep seeing the ups and down in Bitcoin and I see online post about the price and some people are selling out their Bitcoin, at that stage I was not even thinking clearly

I have understand that every action you take in Bitcoin carries risk, yet some mistakes you make can ruin you forever. Sometimes waiting gives you time to understand what you are doing and to avoid decisions that you will regret later. And Bitcoin seems to reward people who think long-term rather than those who always react to every trend.

Trying to time the market to make your moves is not ideal, It has cost me more in the past than just waiting, and in most cases, not every move needs response, especially in the learning phase.

[Dave1]

So what about you guys what do you think from your own perspectives?

Secondly Have you guys ever gained more by waiting than by acting too quickly in Bitcoin?

We can look at it as delayed gratification, of course who wouldn't want to get more money out of our investment and became a self made millionaire? But it's not going to be easy or quick as we all know that investing here specially that the market works in a 4 year cycle.

So that could be the first thing that everyone knows, go look for the long term perspective of Bitcoin and invest thru DCA in that 4 year cycle. That is tough I know that's why I said that it will be somewhat a delayed gratification. You can also feel everything and make a profit after that long term investment of yours.

[Botnake]

I’ve always believed in HODL.
If you understand how the market behaves, especially after observing it for years, it’s easy to be convinced that this is one of the best strategies.

Short-term trading feels a lot like gambling. If you don’t really have the skills for it, it’s better not to force it. You can still grow your investment by simply holding. That strategy has less pressure, and all you really need is patience, belief, and a clear target for when and at what price you plan to sell.

[Tetu100]

Secondly Have you guys ever gained more by waiting than by acting too quickly in Bitcoin?

It depends on what you are waiting for because if it is concerning bitcoin invest for me i prefer taking proper advantage of every single time, however delay or continuous procrastination has always been a big problem to many investors, if you check from when bitcoin started it's almost two decades now and assuming many of us knew about it then and invested greatly on it from that time till now can you realize the amount of profit we could have been making by now?

Though it is also wise to slow down while learning more but I just think it's best taking advantage of time while still learning at the process of your investment journey.

[bitbollo]

I would see this as no stress situation. You had just to save and store your inputs. Thats all.
Of course it's better avoid hard moves by investing heavy amounts of money without rationale... Also this is THE PATIENCE.
No stress to accumulate to fast or make hard moves into this. The lesson that bitcoin can teach to everyone is something unique and priceless.
I would not be surprised if the next "step" for bitcoin would requires only economic operators ...