Investment Bias

[Iamgoat]

This is a nice topic. Now a good investment and one that fits you are two different thing. The investment is good. But, do you have the technical know how of the business, do you have the risk tolerance to invest in that business, the time for the right investment - are you align with it, the capital for such investments - do you have it, so many factors as regarding whether the investment is suitable for you or not. It can be a good investment, but does it fit into your own reality? Many things to answer before one can say this is the right investment for me.

It’s pivotal for everyone who wants to get into an investment to understand these two different aspects and to choose rightly based on what is realistic before them. Investments are not done by emotions, but by reality on grown, what you think will work for you is what you pursue. Over ambitiousness among other wishful thinking does not make you successful in investment rather how you are able to handle the investment from start to finish.

[Sammye3]

~snip

There is money in every business, there is profit in every business. The only difference is how much revenue is generated and the risk factor involved in any business but to a large extent nobody should be the judge of any business' success or failure.

Bitcoin is a good investment but its not the only profitable business out there. You mentioned your friend who's into real estate and how it worked out for him, now that is a complete example of how the investment world works. You cannot possibly make profits for something that you don't put ypur time and energy into, you definitely can't cheat hardwork.

[Jasmyne]

I feel everyone should be free to invest in whatsoever investment that works for them. Real estate is also a good investment but there are still people who will go into it and fail, and still go ahead to try convince others not to do it because they failed. What is mostly important in any investment is tolerance and patience, losses are involved, risk and so many uncertainties, it just depends on the individual involved.
I am very sure people that say bitcoin failed them, are mostly people who bought bitcoin to make quick profit, they never bought bitcoin with the intention of building wealth by holding for a long term.

[NewRevelation]

I feel everyone should be free to invest in whatsoever investment that works for them. Real estate is also a good investment but there are still people who will go into it and fail, and still go ahead to try convince others not to do it because they failed. What is mostly important in any investment is tolerance and patience, losses are involved, risk and so many uncertainties, it just depends on the individual involved.
I am very sure people that say bitcoin failed them, are mostly people who bought bitcoin to make quick profit, they never bought bitcoin with the intention of building wealth by holding for a long term.

In everything we do, there must be understanding and clear cut visions of what we really want about it and how we want it to be. Either real estate, Bitcoin, gold or any other possible investment, one can actually make profit or loses too at a particular time. What you get at the end of it depends largely on how you planned it or your vision to it.

Just like Bitcoin investment, if you go into it with the mindset of quick gains, it may seem not profitable since the volatile nature of it will not let you get the desired profit and also when you want it. Secondly too, if you invest with money that you will be needing soon, and it's not forth coming, you might sell out of panic and at the end say it isn't profitable.

Before we enter into any business or investment, we should try to understand it's workability and take a good plan of how we can run it, so that at the long run, we will have to understand that we really chose it that way, and if it fails too, you understand it's just part of life and then move on. There are a lot of good investments out there, our approach to them all really matters and has a lot to say at the end

[Jubilee58]

Engaging in real estate or Bitcoin investment are all smart move when it comes to investing, the difference is that , real estate involves acquisition of landed properties while Bitcoin is a digital asset, and are all store of value since they all appreciate in value over time.

Every investment involves some level of risk, and that is why one can incure partial or total losses sometimes, and when you incure losses in real estate or Bitcoin investing, that doesn't mean it is a bad business or bad investment , but there could be some factors that could lead to such investment failure which the investor might not be able to notice before time, such as running into scammers.

In real estate, scammers can sell properties that doesn't belong to them, or government taken over the land or demolishing buildings which you have bought, and in this case, you might end up loosing your properties even without compensation.
Thesame scenario goes to bitcoin, a scammer can intrude into your bitcoin wallet if you are careless with your security details, and these kind of experience doesn't make these investment bad investment, and you ought not to discourage others from doing them just because you failed, meanwhile, their are those who are equally succeeding in those investments.
When one fails in any investment,

[Obim34]

~snip
Investment should be judged by it characteristics and not your success or failure story.

There is a question that must be asked of anyone who has failed in a genuine business that many are getting successful in.

The question is, "What did they do wrong?"

Applied to Bitcoin investment, anyone investing who fails has actually pulled a move they shouldn't have. I would rather take their fall lessons, filter mistakes, and create/adjust my own path, so i don't end up like them.

[DiMarxist]

What's the based in identifying a genuine and profitable investment?

While conversing with a friend who is into Real estate investment and claim it was the best means of investment and I said Bitcoin but he didn't accept because of past experiences with cryptocurrency and now making success in Real estate.

As you pointed out in your thread, that this your friend was initially in crypto but heard to quit maybe due to loses or for reasons best known to known to him. In such a case this your friend will be seeing crypto currency as a whole as something that is not trustworthy and will believe more on real estate which is giving him returns on investments.
These types of people will not agree with you that crypto is real because, their experience with crypto currency was not good, at the starting even though we know that things like this is always caused by the individual maybe due to lack of sufficient knowledge to navigate through the crypto space or simply put it they were not prepared to involve themselves in crypto currency.
What I will say is that when it comes to crypto investment, it's important that we should not convince people to invest in what we are investing on. This is because anyone who is not showing interest in what you are investing on, has not come to understand such a business. So trying to convincing such a person will hit the rock at the end of the day. Invest in only what works for you and invest with conviction which is a product of personal conviction.

[Orpichukwu]

We shouldn't be biased because something made us successful like for example disapproving other genuine and successful investment aside bitcoin because that's what we have come to have an indepth knowledge about.

In this example you have given, a lot of people here in this forum are victims of it. I also understand the fact that this is a Bitcoin forum, but that should not blind our minds from accepting innovative ideas. Some people make it appear as if, without Bitcoin, nothing else is worth investing our money in when there are other options out there which, if we are not biased, we can see through, and when I talk about other options, I don’t limit it to cryptocurrency alone but also other sectors. Our mindset should be open and ready to embrace and not to discourage others in their own choices, even if they are not yet being as profitable as they need.

[Shadiq]

Investment should be judged by it characteristics and not your success or failure story.

We all have different talents, different needs and different risk tolerances, so it can be said that our place of success is not the same and our place of failure is not the same. You can be a doctor and it may be easy for you, but for others it may be very difficult and may even fail. Because our talents differ. Look at the case of the invention of the airplane, Samuel Pierpont Langley tried to invent the airplane successfully many times, but he could not succeed. But Orville Wright and Wilbur Wright succeeded in inventing the airplane.

Not everyone can succeed in investing on the same path. The investment in which I failed, someone else may succeed in that investment and where you succeeded, someone else may fail. So it is not that that investment is not good, your situation and mine are not the same. The investment you are making needs to suit your situation, otherwise you are more likely to fail.

[Cryptomultiplier]

We shouldn't be biased because something made us successful like for example disapproving other genuine and successful investment aside bitcoin because that's what we have come to have an indepth knowledge about.

In this example you have given, a lot of people here in this forum are victims of it. I also understand the fact that this is a Bitcoin forum, but that should not blind our minds from accepting innovative ideas. Some people make it appear as if, without Bitcoin, nothing else is worth investing our money in when there are other options out there which, if we are not biased, we can see through, and when I talk about other options, I don’t limit it to cryptocurrency alone but also other sectors. Our mindset should be open and ready to embrace and not to discourage others in their own choices, even if they are not yet being as profitable as they need.

I like the point this story is trying to emphasize and e make me remember a time wey I decide to venture into business because work no too dey wey  fit me, but you know how this our society be na, everyone get their own opinion even when you no ask them and the bottom line be say if you listen to everyone you go get confused and drained and that thing wey dey your mind no go set as you want.

Bitcoin no be compulsory business or investment for everyone, some people dey make money from forex trading pass those wey dey invest for cryptocurrency and some dey make am pass both businesses combined because dem know watin Dem know and no go fit tell you as e be for dem from the start till Dem attain the success wey Dem get now.

Just follow your path and knowledge and keep improving and that small thing wey you get idea of, fit make you blow regardless of whether na Bitcoin o, or na forex o, or na real estate o. Just focus on your own shit!

[Felicity_Tide]

Investment should be judged by it characteristics and not your success or failure story.

Is it just that?, how about we classify investments that are genuine based on facts and track records?. I think you can have a better argument when you decide to use something like that, rather than allowing the arguement to stand based on someone else's opinion only. A lot of people can be very biased even in the slightest argument, and they have no shame in doing that. They just want to make sure that you're wrong even when there's no enough evidence to back it up.

Bitcoin investment is profitable... Same thing for real estate, but it shouldn't end there. Both investments tends to have different attributes, or characteristics that makes them distinct and makes them profitable in different ways. But mind you, losses are also inevitable, and it differs for both. What I feel is, everyone should just invest in whatever they find interesting and easy. There's no point of trying to undervalue anyone of them when they're both globally recognized as good investments.

[CryptopreneurBrainboss]

There is something that is quite common across people which is they feel like what is a success for them will be or is the best means for others which is far from the truth.

There's always going to be a bias in investment as what works for me will always be considered a good investment and what doesn't will be considered bad investment. We have heard stories of when billionaires make money from a specific type of investment then they consider it the best and then talk down on other investments like Bitcoin and the crypto industry at large. We also saw how those that made money from steel, real estate investment talk down on the Tech companies and decided not to invest into them as they consider them bad for business but it turned out that they missed an opportunity to make more fortune. People always consider investment that they haven't tried not good for them but you don't have to persuade those that have already made up their mind but instead you let your success in that investment do the talking.

[Amphenomenon]

Contrary to your opinion, I think the real estate investor is correct. Although it is good to be open minded and less bias when trying to invest, but I cannot encourage a friend or brother to invest in an asset I've already encountered failure, atleast such encouragement/support should come from someone who succeeded in such asset. That is to say if I succeed in Bitcoin investment, then I can be confident to tell a friend to go for it because I have the Knowledge and resources to make him/her succeed in that form of investment.

That does not mean I am undermining or neglecting other investment opportunities, sure you could succeed in other assets and investments but the advice and encouragement should come from someone who is already doing well with that asset since this will help you avoid the mistakes he/she made in his/her early days of investment, this is known as mentorship.

You can encourage another for an investment you weren't successful with but it's legit and this is especially wheb you are aware of others who are successful. Sharing or giving good advice doesn't mean one was successful you can share lessons you learnt or be a sign why they should be more cautious as they venture into it.

I have those around me who are successful in things I have quit maybe because I suffer lost from it or it was inconvenience for me but seeing that others are successful in it, including those who I know is a good reason not yo advice every other person's we know to quit, we can recommend things that will help them or link them with individuals who can.

[Ashawowo(OS)]

While conversing with a friend who is into Real estate investment and claim it was the best means of investment and I said Bitcoin but he didn't accept because of past experiences with cryptocurrency and now making success in Real estate.

There is something that is quite common across people which is they feel like what is a success for them will be or is the best means for others which is far from the truth.

One very bad mistake people always make is allowing their past mistakes or experiences determine their future, I admit that in the verge of exploring crypto so many people have had bitter experiences, including your friend, but it doesn't mean crypto is bad or a bad investment option, they only had a bad experience and they immediately gave up. well... good riddance to them.

Since he is already successful in another niche, I suggest you leave him with his bias, it's working for him and don't try to convince him, I'm only against condemning a good investment vehicle simply because it didn't work for us and we are sure aware it worked for others, but we choose to hold on to our own ugly experiences as the only valid yardstick for judging such investment vehicles.

[Thewatchman]

success wey Dem get now.
Just follow your path and knowledge and keep improving and that small thing wey you get idea of, fit make you blow regardless of whether na Bitcoin o, or na forex o, or na real estate o. Just focus on your own shit!

Yes, na wetin I got to understand about life in general, everyone got their own lane of life, the day you decide to leave your lane to another one is the day life go begin hard for you somehow, not extremely hard but stresses you. I do tell my friends to always focus on what they can do best and not wanting to follow me do crypto.

I know why I urge them that way but they may not understand.

If I loss in crypto, I can maintain my pain as if nothing happens and still laugh with everyone, but if they loss, I'll be in trouble including everyone who comes across them.

[Alvin_talk]

You can encourage another for an investment you weren't successful with but it's legit and this is especially wheb you are aware of others who are successful. Sharing or giving good advice doesn't mean one was successful you can share lessons you learnt or be a sign why they should be more cautious as they venture into it.

I have those around me who are successful in things I have quit maybe because I suffer lost from it or it was inconvenience for me but seeing that others are successful in it, including those who I know is a good reason not yo advice every other person's we know to quit, we can recommend things that will help them or link them with individuals who can.

This can only apply if you have friends who succeeded in those other investment and are willing to share important information and resources about such investment.

You might be making a mistake by linking someone to a friend just because he/she succeeded in an investment the said person wants to go into. What if your friend is reluctant or unwilling to share the information and resources this person needs in order to start investing in this asset, and lets say the individual takes the risk to invest anyways since you had already told him/her such form of investment is good and unfortunately, the said person ends up losing the capital he/she invested, there is a tendency that such individual will hold you responsible or atleast blame you for his failure in that asset, because he/she trusted you by your words.

[Agbamoni]

Investment should be judged by it characteristics and not your success or failure story.

Dont expect someone successful through real estate to talk badly about real estate. Surely, real estate investment has proven to be a good investment to them based on their achievement, so it is okay if you see them in an argument about which investment is the best. Among all the assets worth investing in, we have successful people earning from them. There is success in Gold, Real estate, Bitcoin- name them. People are using them to make money.

[SPIDERMAN008]

I agree with you. It is never right to judge an investment based on personal success or failure. The first basis for understanding whether an investment is genuine or should be where its return comes from. Real estate returns can come from property value appreciation, or rental income. On the other hand, Bitcoin profits come with limited supply and increasing acceptance and demand. However, there is no guarantee that an investment can be successful or profitable even if it is genuine. Because if someone buys a property in the wrong location, it is natural that it will not give a good return. Similarly, even if bitcoin is genuine and a powerful asset, many investors can be harmed due to issues like short-term mindset, panic selling, etc. So, in all considerations, who will invest in which one depends on the personal wish of the person making the investment. The type of investment that best matches the investor's personal preferences and financial situation should be the one to invest in. But it would not be right to ignore the real limitations of weak investments or the comparative advantages of Bitcoin  as personal preferences.

[Sim_card]

Una know how Nigeria pipo be nah. When them see you dey make money for one business, them go rush to start that business because them dey envy you. This Na e make some of them dey fail for such business because them no understand am but copy e neighbour take open the business. Na e make you see say most Nigerians dey business bias.

[Cyber_warrior]

I learnt this some months back, before I used to be the kind of person that wants others to see through my perspective but then I realized that the world is big enough for everyone to explore and find out what works best for them. There are so many investment opportunities out there and just like bitcoin some of these investment opportunities will do well in the future so it's best we advice people to see the honey in our own investment idea rather than talking them out of what they already have in mind, because  chances are that if that person misses his/her own golden opportunity because you talked him/her out of their own idea he/she may not forgive you for that.

I really like what you said here, some people usually use to think their own way is always best what to navigate to get money or or life entirely. But they fail to think that they have only walked in that particular territory. There are other people doing different thing and it also works fine for them. you might be  the type that is into bitcoin, stocks or even real estate, some might find that too volatile and complicated.

So in these aspect, if you are into Bitcoin, you should just give them reasons why they should try what you are doing. So instead of saying what they are doing is not right, just tell them the reason you love bitcoin investment is because the technology, security and even the profit in it.