The Difference Between Being Early and Being Lucky.

[okorieemmanuel]

There is one say and believe of some that the first shall be the last and the last shall become first , it's a clear definition of this early and been lucky, I see it as a principle that work on any investment that patient is lacking, you can be early and failed to exercise patient and one with patients who was lately introduce become the lucky one to achieve what you that has be there could not, in this market it occasionally happen that most investor at the time of entering the market has opportunity of buying the bottom when it's extremely dip.

Early and lucky, the both have different contexts, early birds are exclusively not the same with those who were lucky to invest and held for a longer duration... Many buyers who bought btc at a peanut price couldn't hold past 1k ATH before selling for profit, some who bought at this exact same price and held btc till it got to 100k made more profits than the early birds who sold quickly for fast profits. However, this is only measured on the basis of bitcoin investments as we can't tell generally how the early sellers made use of the fiats they got off bitcoin when they left, they're multiple businesses in the world that makes people billionaires too.

You are right in your respective remarks. Let me simply add a little tune to this melody.
  To be Early in making Bitcoin purchase investment could be luck if you simply bought it and you probably didn't know what were doing. You make wake up the next day to discover that it's value have risen significantly.
It all about discipline. If you don't reinvest after being Lucky, you may end up worse than before even though you were lucky. Hence, luck have it's downside of lack of information. In all context, being early to buy Bitcoin in any low value is definitely am opportunity . Millionaires are not built in a day . It was built over time.

[Samlucky O]

Therefore, what separated those who were merely early from those who ultimately benefited from bitcoin is conviction and patient imo, because it is easy for anyone to buy an asset when nobody is paying attention to it, but it is much harder to hold it through market crashes, negative media coverage, government criticism and years of uncertainty. Feel free to give your two cents on this discussion.

Actually this matter of being lucky and beaing early has been said often times and has been deliberate. I guess in Bitcoin investment there is nothing like being lucky. It's just being persistent, patient, focus till such person achieve his goal. It just  like two people working or striving for thesame position at same velocity and the other was discouraged, maybe as a result of tiredness or didn't believe on himself thereby accepting defeat early enough while the other continues and won. So if this guy become patient and win the race,  The other guy who gave up will say it is luck that made his coleque to win. Meanwhile it was the hardwork and effort of the other to win. one thing I observed in this life is that what other can't achieve and you did achieve it, it becomes luck.

[MarjorieZimmermanGinger]

Therefore, what separated those who were merely early from those who ultimately benefited from bitcoin is conviction and patient imo, because it is easy for anyone to buy an asset when nobody is paying attention to it, but it is much harder to hold it through market crashes, negative media coverage, government criticism and years of uncertainty. Feel free to give your two cents on this discussion.

In terms of profits, it's likely true that those who bought early when the price was still low will have more Bitcoin now as long as they never sell. Even those who bought Bitcoin when the price was still quite low have become billionaires. That's another matter that very few people are fortunate enough to have because most people today no longer think about who started early but rather how they consistently strive to buy, rather than just waiting for the right time.

Seeing opportunities and chances will lead someone to success. Sometimes, even quick gains without consistent persistence won't lead to financial success. When people begin to understand investing, they need to think about asset growth, no longer about surviving a market crisis, negative news, or government policies regarding the asset.

[Perfectbaby]

I do not really see any reason why people should be regretting about their actions today for having to sell their bitcoin back then. Even if it was today thing you could have seen people who would have dump massively due to the profit they have seen, There are people who invested into bitcoin the initial stage when the price was around 1$ and immediately it hit 10$ they took quick profits without know the purpose of bitcoin where they are only seeing the instant profits then without studying the future of bitcoin to where it would end up reaching. True if it was today thing you could still see people who are that ignorant of themselves without taking that bold move to hold back their bitcoin. Well, I wouldn't have to apportion blame to anyone who now regretting for losing for big time or dump their bitcoin at cheap price.

[michellee]

The time already passed so you don't have to regret not enter in early but you still have more chances to enter anytime and if your reason is investing, you can enter whenever you are ready and you can determine the time.

Those early not many could hodl their Bitcoin because they never though that Bitcoin can increase so high and many of them sold when the price increase for a little. But we can't deny that those who enter early are lucky because they can buy as many as they can but not many can resist till this day.

You don't have to delay anymore and decide it before you really regret and your time is almost up. If you deciding now to invest in Bitcoin, you are one of the lucky person as many people don't know Bitcoin.

Focus on yourself and accumulate Bitcoin and no need to think much about others.

[Accardo]

You are right in your respective remarks. Let me simply add a little tune to this melody.
  To be Early in making Bitcoin purchase investment could be luck if you simply bought it and you probably didn't know what were doing. You make wake up the next day to discover that it's value have risen significantly.
It all about discipline. If you don't reinvest after being Lucky, you may end up worse than before even though you were lucky. Hence, luck have it's downside of lack of information. In all context, being early to buy Bitcoin in any low value is definitely am opportunity . Millionaires are not built in a day . It was built over time.

Efforts and awareness mingles with the helpful factors that determines success for both kind of investors, James Howell is a good IT guy who was not aware of his mistake of trashing a hard drive containing the private keys to about 8,000 btc he owned, until the price breached $1000 per coin few months later. This error he fights all day to regret, had bitcoin price gone to zero would he go for this decades of requests in court to search the landfill for the trashed hard drive? Awareness and attention to every decision we make in life helps financial growth, all the people beating up their peace of mind for losing access to their bitcoin weren't aware of what it'll become decades later.

[retreat]

In the end, conviction really is the most important thing. Because among the many early adopters, the fact remains that not all of them were able to hold on for that long--some sold when they saw a little profit, some sold out of panic when Bitcoin crashed, and there were other reasons that caused them to miss the opportunity to hold onto Bitcoin at much higher prices. Although luck cannot be ignored in this context, for example, there are people who forgot about their Bitcoin and only remembered it later--the fact remains that for most people, the ability to maintain their conviction even when Bitcoin’s price crashes is what has allowed them to get this far.

[Odusko]

Therefore, what separated those who were merely early from those who ultimately benefited from bitcoin is conviction and patient imo, because it is easy for anyone to buy an asset when nobody is paying attention to it, but it is much harder to hold it through market crashes, negative media coverage, government criticism and years of uncertainty. Feel free to give your two cents on this discussion.

Actually this matter of being lucky and beaing early has been said often times and has been deliberate. I guess in Bitcoin investment there is nothing like being lucky. It's just being persistent, patient, focus till such person achieve his goal. It just  like two people working or striving for thesame position at same velocity and the other was discouraged, maybe as a result of tiredness or didn't believe on himself thereby accepting defeat early enough while the other continues and won. So if this guy become patient and win the race,  The other guy who gave up will say it is luck that made his coleque to win. Meanwhile it was the hardwork and effort of the other to win. one thing I observed in this life is that what other can't achieve and you did achieve it, it becomes luck.

I don't believe in luck rather I believe in action that can increase someone rewards, let say those that were around in the early day's of Bitcoin when the price was around cents not even up to a 💰 dollar, we had those that believe the dream and took the risk to buy alot of Bitcoin at that time, now that the price of Bitcoin is in thousands of dollars, they can be seen as lucky because right now they are enjoying the fruit of their risks, so ultimately if you check closely you will see that is not about they luck but about taking the right action when it matters.

[Darker45]

Many think being early is a guarantee that they'd be rich today. But I don't think there's much difference. Many who are here now today won't be here now anymore if they came early. These days, many came for the money. They must have left when they made money. They'd say they'll hodl? Come on, they'll only say that because they're already aware how high Bitcoin could get. But even the OGs, the true believers, even the early developers, even those who directly corresponded with Satoshi, sold lots and lots of coins way before Bitcoin reached a 4-digit price.

[JaanusRaim]

I feel that people who were introduced to Bitcoin early were lucky even if they did not fully exploited the opportunity and even if they did not exploited it at all.
The opportunity itself is valuable (even if you do not use it) because you can learn much from it. Opportunity is like a mirror.

Unexploited opportunity relates to regret in the similar way as rhubarb pie relates to rhubarb  


NB! One musician could compose a requiem for Bitcoin pioneers who were not able to exploit the BTC opportunity.

[Iranus]

I don't believe in luck rather I believe in action that can increase someone rewards, let say those that were around in the early day's of Bitcoin when the price was around cents not even up to a 💰 dollar, we had those that believe the dream and took the risk to buy alot of Bitcoin at that time, now that the price of Bitcoin is in thousands of dollars, they can be seen as lucky because right now they are enjoying the fruit of their risks, so ultimately if you check closely you will see that is not about they luck but about taking the right action when it matters.

But as you said, Bitcoin was worth only a few cents at the time. This means that those who bought Bitcoin at that time only needed to spend a very small amount of money to own a significant amount of Bitcoin. Almost no one was willing to spend hundreds of thousands or millions of dollars or go allin on bitcoin at that stage. That also means they have faith in bitcoin, but overall, they are still taking a very small risk. If Bitcoin fails, their losses would not have been significant.

So I believe luck played a role in their success, not just action or vision alone.

[DiMarxist]

I don't get your point OP, because I don't agree with you that someone got lucky in Bitcoin investment and so is rich today. Those early investors who cash out big in big due to their investments in Bitcoin should not be discribed as luck because they took the risk, faced a lot of criticism from no saiers and got discouragement from friends and family members. Yet those who cash out big stood their ground and didn't give up like the other do which gave up their investments due to side talks and even due to the price. Anyone you see today that has made it big in Bitcoin is not lucky, if you check critically in our time thesame thing is happening because till today many are still doubtful about Bitcoin and tomorrow some one will say those who started today and has made it big in Bitcoin is actually lucky no.

[coin-investor]

Therefore, what separated those who were merely early from those who ultimately benefited from bitcoin is conviction and patient imo, because it is easy for anyone to buy an asset when nobody is paying attention to it, but it is much harder to hold it through market crashes, negative media coverage, government criticism and years of uncertainty. Feel free to give your two cents on this discussion.

Many of these weak hands even sell at a loss; they still believe that at one point, Bitcoin will lose its value, so a big crash is a signal for them to dump their shares.
I consider people who are firm believers of HODL not only lucky but also destined to reap huge rewards, it's not easy to HODL to ignore the market and see your shares losing value and at a loss, so HODLERS may be late investing, but they extend their luck by extending their patience until they realize huge profit.

[tygeade]

Being early sometimes means we take unnecessary risks. It is not always that our early decisions can benefit us. There are times when we regret our decision. For bitcoin, yes early adopters were definitely the ones to book extreme profits but let's keep that aside for a moment.

There are people who thought they can be an early investor for newly launched ICO's a few years back. Just being an early investor never gave them the upper hand and anyways they lost money with all other investors as the ICO did not succeed. Sometimes being early might need being lucky as well. You can't always expect good things to come along. Sometimes, actually, most of the times, disappointment will come along and we should be prepared for that.

[StarenseN]

Sometimes they are the same, sometimes they are not. It's the intention that differentiate it and intention can't be proven so you never know.

Someone who bought bitcoin in 2010, could be doing that because they knew that it would go up, in that case it's smart, and they could be doing that because someone gave him that as a gift, we wouldn't know. If they did it because they knew it would go up and kept hold of it, then they are smart, if it was a gift they found out later on then it is not smart and just lucky.

[Marvelockg]

In the end, conviction really is the most important thing. Because among the many early adopters, the fact remains that not all of them were able to hold on for that long--some sold when they saw a little profit, some sold out of panic when Bitcoin crashed, and there were other reasons that caused them to miss the opportunity to hold onto Bitcoin at much higher prices.

For every earlier bitcoin investor that sold his asset too soon, such sale decision happened because they were in a situation that selling their coin at the time looked like the best available decision. along the time that bitcoin came into existence till this time, bitcoin has witnessed an influx and outflux of different kind of investors and over time, newer ones have joined some of which have stayed and others have left. what made the difference in them all in the strength of their decision which are a function of the circumstances they found themselves and how prepared they are for such circumstances.

If we project that somewhere within this year that bitcoin somehow gets to $20k and that by mid next year bitcoin will get to $200k. a lot of present day investors will sell their coin when their is that massive DIP and live in regret in months to come. in summary, the circumstances that investors experience during their investment period also plays a role in their decisions.

[YOSHIE]

The Difference Between Being Early and Being Lucky.

That's a wrong way of speculating, luck doesn't come from starting to do it, but luck comes when you want to do it confidently and spread out.
Bitcoin always provides opportunities for profit for those who want to do it, the price of Bitcoin has risen to the level of $ 120k now and now it has fallen to the level of $ 60k if in speculation there is a big possibility of reaching back to the starting point, if you buy now of course there is a big chance of luckfor you.

So you don't do something from the start where it is cheap at that time, but you do something based on your will and belief, now or in the future.

[barbara44]

I don't get your point OP, because I don't agree with you that someone got lucky in Bitcoin investment and so is rich today. Those early investors who cash out big in big due to their investments in Bitcoin should not be discribed as luck because they took the risk, faced a lot of criticism from no saiers and got discouragement from friends and family members. Yet those who cash out big stood their ground and didn't give up like the other do which gave up their investments due to side talks and even due to the price. Anyone you see today that has made it big in Bitcoin is not lucky, if you check critically in our time thesame thing is happening because till today many are still doubtful about Bitcoin and tomorrow some one will say those who started today and has made it big in Bitcoin is actually lucky no.

I would still say some got lucky. A lot of people found lost bitcoins and that changed their lives. For those people, I would call them lucky enough to find those lost bitcoins. A lot of people mined bitcoins in the early days but majority of those people forgot that they actually did mine some. They have to dig their older computers in order to find the keys which in most cases is lost. The ones who find their keys are the lucky ones as they didn't even have to invest anything and yet have earned a fortune.

Being early and being lucky is both different. Person who is lucky can be early but those who are early can't always be lucky. Success depends on various factors like the ability to take risks, show patience and trust the whole game.

[Odusko]

Sometimes I tend to call those who invested in bitcoin at the early stage when the price was really low shouldn't be termed as lucky but the most believers, because at that time almost no one believed in the bitcoin potential and only those who could afford to lose their money actually bought bitcoin since it had almost no recognition on the exchange at that time. But now they risks have paid off and in massive gains, but we shouldn't call that luck.

[Marykeller]

Being an early investor in Bitcoin or any other coin is not quite easy because along the line you will be tempted to sell at a high or low price because what's next, is what you can't foresee. You will be left alone to wallow in your thoughts, to take out profits, or keep holding on to profits or losses.

I thereby, commend those who have hodl Bitcoin through its ups and downs during its early days, they didn't shake a bit to sell at the profits they saw