Bitcoin Investment Shouldn’t Be Considered a Competition Between Folks

[IceLincoln]

There are many a time me and my guys talk about Bitcoin investment and the success rate of their investment so far, often time, they’ll be like, I’ve been able to accumulate this amount of bitcoin how about you, others would be like, I wasn’t able to accumulate that much this month and/or this week base on bills I sorted out.
The next thing most of the investors in my demographic will say is, you didn’t make plans for the next month and/or you didn’t set your priorities toward accumulating during the weekend or month end.

At the end of the next month and/or week, the others will be in agitation to be able to meet up with their guys accumulating percentage, forgetting that (my parent will always use the analogy”not all fingers are equal to explain how different we are from others”) their source of income varies. Putting yourself on pressure just to meet up with your guys might lead to a guy investing with more than his discretionary fund, which we all know might lead to a guy selling his bitcoin at a time that is not of his own choosing.

I’ve come to understand that allowing oneself to be motivated by other persons achievement towards your line of action is not a bad idea, almost is a good start up point, but when you know within yourself that it’s not yet within your capacity to invest with the amount they’re able to sort out as discretionary fund for investment, it’s advice that’s you keep investing at your own pace and stop trying to prove to others what might end up as a disaster in your own path to success.

I think it has become an anthem here “Bitcoin is not a competition” there’s no awarding first position or last here. There’s no winners or losers trophy. It is just a lucrative asset or investment. We as individuals have different financial capabilities and our situations or circumstances are also different so there’s no need to pressure yourself or others, with just your discretionary income you can successfully build a successful Bitcoin portfolio.
What you and your friends are doing can serve as a motivation to keep you on your toes but not as competition to see who’s holding the highest or whatever.

[Biggeno]

All hands are not equal so to say, that means everyone capacity and target of investing in Bitcoin will not be the same. Anyone who's competing him or herself with someone else is just wasting their time and strength because there's no way they will take away the profits or losses of the person they know to be theirs. The profits or losses we all have are individually, not something to be praised or castigate each other on because we are investing in crypto with our own money

I wasn’t making reference to crypto as the general work for digital currency implies, but specifically talking about bitcoin, using the word crypto may sound verse without pinpoint on a particular subject of discussion. Talking about losses, I don’t consider the decline of Bitcoin and the reduction of my stash price to be loss, except there’s an intention to trade, which is not an option for me with Bitcoin. As long ad a guy has long term conviction, declining in Bitcoin price shouldn’t be a thing to be overly worried about.

[icebar]

Not all investors have the same source of income or same amount. Those who can earn a lot of money have more discretionary income. On the other hand, there are many who have limited income and cannot invest much, which is normal. If there is such competition, there will be more chances of loss than profit. Some investors may compete with others and make aggressive investments, but it will not last long. While investing in Bitcoin, one should not invest any money that cannot be held in the long term. It is not bad to compete in investment, but one should invest within one's means. If someone does not specify the amount and only deposits Bitcoin with the aim of holding it for the long term, then the competition will not have any negative impact.

[Wiwo]

One thing I know is that, whatever competition that bring about favorable future outcomes, like investing aggressively through collaboration with other folks is a welcome competition for me if you ask me.

Trying to meet up to save using DCA as you explained is good after all you are securing your financial future through such competition.

What you must not do is to go a step ahead to borrow to invest in bitcoin, this format can keep you at a spot without making any progress in the long run.