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Author Topic: Your first Bitcoin goal should be consistency not big profit.  (Read 246 times)
Achalugo BTC
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Today at 01:22:03 AM
 #21

This is a fact OP, lately people chase big profits instead thinking of what they could achieve on a long term, i know that the excuse many people have is that the economy is bad and they need quick profits to sustain themselves in times like this, the truth is that Bitcoin can be perfectly used as an inflation hedge but on a long term period of holding.
 Not just holding but consistently adding to what you're holding to, chasing big profits is similar to gambling cause people who do that barely tend to hold longer, they risk what they have to hit it big in a short period, not minding that Bitcoin is volatile.
Absolutely right, they think investing or holding bitcoin its for the profit alone, they don't think there are essential things that they need to do to help them sustain them in their journey which its consistent and patience, as it will help them to navigate through pressure due to volatility of the market, as it also removes some of the emotion and panic that will make them to fall apart from their initial purpose. Of a true, the journey is not easy at all but accepting the process and working towards making it a success its all that is important.

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Today at 02:56:09 AM
 #22

This is a fact OP, lately people chase big profits instead thinking of what they could achieve on a long term, i know that the excuse many people have is that the economy is bad and they need quick profits to sustain themselves in times like this, the truth is that Bitcoin can be perfectly used as an inflation hedge but on a long term period of holding.
 Not just holding but consistently adding to what you're holding to, chasing big profits is similar to gambling cause people who do that barely tend to hold longer, they risk what they have to hit it big in a short period, not minding that Bitcoin is volatile.
Absolutely right, they think investing or holding bitcoin its for the profit alone, they don't think there are essential things that they need to do to help them sustain them in their journey which its consistent and patience, as it will help them to navigate through pressure due to volatility of the market, as it also removes some of the emotion and panic that will make them to fall apart from their initial purpose. Of a true, the journey is not easy at all but accepting the process and working towards making it a success its all that is important.
Literally the main objective is profit. You want to succeed in every task you do on a daily basis but if it is not done properly you will not get the desired results from it. If your objective from Bitcoin is to make profit and that too for a short period of time, it will not be successful in most cases because your objective is greedy and there is no touch of discipline. To get the desired advantage from Bitcoin you have to stick to the long term DCA method and target a certain point.

If you do not have the available amount of funds, you will not get much success from being patient. If you have a volatile attitude while investing in Bitcoin and the need for invested funds arises, you will fail to invest in the long term. You will not have the fear of losing money if you can deposit Bitcoin regularly through discretionary income. Have a long term Bitcoin accumulation strategy and stick to your specific targets with discipline in every price trend.

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Today at 02:04:05 PM
 #23

Snip...
Absolutely right, they think investing or holding bitcoin its for the profit alone, they don't think there are essential things that they need to do to help them sustain them in their journey which its consistent and patience, as it will help them to navigate through pressure due to volatility of the market, as it also removes some of the emotion and panic that will make them to fall apart from their initial purpose. Of a true, the journey is not easy at all but accepting the process and working towards making it a success its all that is important.
Literally the main objective is profit. You want to succeed in every task you do on a daily basis but if it is not done properly you will not get the desired results from it. If your objective from Bitcoin is to make profit and that too for a short period of time, it will not be successful in most cases because your objective is greedy and there is no touch of discipline. To get the desired advantage from Bitcoin you have to stick to the long term DCA method and target a certain point.

Pay attention to the Subject of this thread "Your first Bitcoin goal should be consistency not big profit" nobody kicked against future ROI, I used the word "future" cause Bitcoin is a long-term investment option not something you take profits within 6 months or even 3 months, you have to hold it for 4 years atleast before thinking of profits.
 That's what the OP is talking about, which is very correct. Your major aim for a long term investment shouldn't be profits but being consistent with accumulating to meet your goal in future which is getting better returh (profits). It's just like a farmer having a seed and thinking of germination with allowing the seed going through planting process for germination, growth, then harvesting to take place. Consistency is part of the process of Bitcoin investment before profits, hope you understand?

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Today at 05:00:16 PM
 #24

This is a fact OP, lately people chase big profits instead thinking of what they could achieve on a long term, i know that the excuse many people have is that the economy is bad and they need quick profits to sustain themselves in times like this, the truth is that Bitcoin can be perfectly used as an inflation hedge but on a long term period of holding.
 Not just holding but consistently adding to what you're holding to, chasing big profits is similar to gambling cause people who do that barely tend to hold longer, they risk what they have to hit it big in a short period, not minding that Bitcoin is volatile.
Absolutely right, they think investing or holding bitcoin its for the profit alone, they don't think there are essential things that they need to do to help them sustain them in their journey which its consistent and patience, as it will help them to navigate through pressure due to volatility of the market, as it also removes some of the emotion and panic that will make them to fall apart from their initial purpose. Of a true, the journey is not easy at all but accepting the process and working towards making it a success its all that is important.
Literally the main objective is profit. You want to succeed in every task you do on a daily basis but if it is not done properly you will not get the desired results from it. If your objective from Bitcoin is to make profit and that too for a short period of time, it will not be successful in most cases because your objective is greedy and there is no touch of discipline. To get the desired advantage from Bitcoin you have to stick to the long term DCA method and target a certain point.

If you do not have the available amount of funds, you will not get much success from being patient. If you have a volatile attitude while investing in Bitcoin and the need for invested funds arises, you will fail to invest in the long term. You will not have the fear of losing money if you can deposit Bitcoin regularly through discretionary income. Have a long term Bitcoin accumulation strategy and stick to your specific targets with discipline in every price trend.
Of course, to get profit through investment must invest with discipline and have a long-term plan and hold on to it patiently for the long term, not get disappointed quickly must utilize every opportunity with confidence. As a result, enjoy all the benefits that come from Bitcoin in the future. One mistake most investors make is investing in Bitcoin with a short-term plan, which results in more chances of losing money than gaining money because Bitcoin is very volatile, so it is never possible to make money quickly through investment. We can buy Bitcoin consistently by adopting the DCA method and easily hold it in the long term because it will not put additional financial stress on the investor. With the help of prudent money buy Bitcoin little by little with discipline and hold it for a long time.

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Today at 05:20:14 PM
 #25

When starting to invest in Bitcoin, many people think about profit. New investors think about how many days it will double or when to sell to get more profit or when is the right time to invest. A new investor should never have the goal of making big profits. He should think about creating consistency and investing for a long time.
It's not a crime to think profit when going into investment as it's good know you would be in profit from what you're investing into someday. In the other hand I can get a hold of what you're saying and it's good if newbie investors could think this way as part of their investment plans is projected on the profit making timeframe rather than ways on how to stay consistent throughout the whole process without getting butchered by unforeseen circumstances that they weren't prepared for. One of such way to be able remain consistent in a long term plan investment is to sort for multiple sources of income creating an income flow that protect your finances from shrinking due to emergency .

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Today at 07:01:51 PM
 #26

Anyone who calls himself an investor but still prioritizes profits over consistency, then that’s the biggest sign that they are not really investors but traders. True investors, especially the newbie investors would understand that Bitcoin investment is a long term investment and anyone who is investing in Bitcoin should focus more on building a long term mindset and not just chasing profits. I believe this is basically what draws the line between an investor and a trader.











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Today at 07:41:37 PM
 #27

Anyone who calls himself an investor but still prioritizes profits over consistency, then that’s the biggest sign that they are not really investors but traders. True investors, especially the newbie investors would understand that Bitcoin investment is a long term investment and anyone who is investing in Bitcoin should focus more on building a long term mindset and not just chasing profits. I believe this is basically what draws the line between an investor and a trader.

Investor sef from the name, it's understandable well well say na something wey person dey put their hand dey gather keep for the future and no be something wey go bring return fast fast, the name sef dey show say na something wey people dey do consistently overtime and number one example na Bitcoin investment and then real estate investment, these two concepts is gradually built not you just wake up in the morning and then everything works out, it's not worked like that everything is a process and a slow and consistent one at that.

 
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Jegileman
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Today at 08:06:43 PM
 #28

The first thing a new investor should do is to fix his financial structure and then start investing in Bitcoin regularly by understanding his expenses. It is possible to maintain the continuity of investment for a long time by forming a backup fund and investing from discretionary income. And that increases the chances of an investor getting into a profitable position over time.

You can’t take away the mindset of the anticipated profit of an investor out of their mind from the moment they’ve shown interest to invest into bitcoin. Investors first calculate their anticipated profits before they even embark on the investment, if the profit is not worth it in the long term, then they won’t even kickstart the investment from initials.

It is very important to have a culture of a consistent investment in any investment you’re embarking on especially those like Bitcoin that you’ll have to keep investing to reach your targeted capital for investment, this gives you discipline and a proper practice more to account for your investment in the long run. Both are important to have in mind, it is just left for the investor to stick to what will benefit his overall investment in the long run.











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