Bitcoin, The Pathway To Wealth Creation.

[Joy- maker]

Bitcoin isn’t a safe investment, it an investment with risks and investing in it doesn’t mean we are going to make it out successfully or our profits are guaranteed at all, it just like any other investment too that comes with risk.
But the factors who did point out will absolutely lead us to good returns but profits ain’t guaranteed and for the new investors out there we shouldn’t invest with what we can afford to loss instead invest with our discretionary income.

I disagree with this. If you understand about bitcoin very well and you invest in it at the right time and also being able to wait until your investment has yielded enogh profit, you will know that bitcoin investment is very profitable. Some people invested at the wrong time, still it can take a long time before profit, but bitcoin has proven many times that it is a store of value.

It is not all about understanding Bitcoin very well or about the amount you hold in Bitcoin, it is about security. Bitcoin on it own cannot be easily  hacked, but peoples wallets can be easily hacked.

Also, Bitcoin has already proven itself to be a store of value with the potential for significant returns when you accumulate a decent amount of it and hold it for long term.

A few days ago COLDCARD wallet was reportedly compromised and many people lost the Bitcoin they spent years stacking, you guys that are technically skilled can relate to the fact that what determines your success in Bitcoin is your security practices.

[Cryptoprincess101]

Being optimistic is about bitcoin can give you confidence as an investor, optimism makes you believe in bitcoin, amable you to invest in bitcoin without being discouraged, you stay focused, and not minding what other people are saying, ignoring the crowd and staying patient in the bitcoin market.

Optimism is what keep investors in a tight corner when their investment is not going as they expected. Being hopeful that the market will be progressive and positive in the future is good but that doesn't mean that you should be so expectant of a positive yield because the market is not assured that it will be positive in the future. Things might be different due to some changes that may occur which can cause the price to fall so it is better to invest with a spare amount and disregard whether the market turns out positive or negative and only focus on the result in the long term.

[Y3shot]

There is nothing much for one to invest in bitcoin, and what people need to understand is that bitcoin is a long-term investment and it requires one to just have patience and HODL. There are different strategies to use for investing in bitcoin, and one would have to choose which strategy will be better for them based on their understanding and how they prefer to invest in bitcoin. Bitcoin investment doesn't guarantee wealth creation, but it is a good investment that has a good return on profit.

[CryptopreneurBrainboss]

Another factor that creates wealth for you is patience, patience is the reason why your bitcoin investment compounds, but those investors who are not patient with their investment end up loosing their asset instead seeing their investment grow in value. Patience is a key factor in creating wealth with Bitcoin, and should not be ignored

Hodling is the most profitable way of making wealth from Bitcoin and people know this but yet choose to look for other means only because hodling takes longer for them since quick money is now the norm now and this goes to show where the world is heading into.

There are various interesting means of making money with Bitcoin that investing might not be one of but those ways have so many bagage that hodling seems like a cheat code when you evaluate the ROI ratio for all the ways. Trading looks interesting but has the rollacoster of your emotions being toyed with, Bitcoin mining has it's benefits but judging by the cost alone it's not worth it especially when you're doing it personally.

At the end of the day, It's just best you buy and hodl if your sole purposes of entering the market was to make wealth and not to have an impact to the industry.

[Dareo]

Creating wealth with Bitcoin needs good strategy, and determination, and people who lack these strategies end up making big mistakes, and even end up regretting going into bitcoin investing .

Along with this, the biggest thing that is needed is risk management, because many people start with a good plan but invest such an amount of money that if they lose it, it will affect their daily lives, then even if the market falls slightly, they sell it in panic. And this money should never be invested.

Being optimistic is about bitcoin can give you confidence as an investor, optimism makes you believe in bitcoin, amable you to invest in bitcoin without being discouraged,

But blind optimism is never good. If one only sees the positive side and ignores the potential risks, then the chances of making the wrong decision increase. There should be confidence, but it should be based on an understanding of reality.

[PhilosopherKing]

Success is not guaranteed thing, but if I want to give my two cent to the discussion then I will say that the formula to a successful bitcoin investment is to invest using discretionary income that is the major thing. People should not just think bitcoin give results, it does not. For you to benefit from bitcoin, you must be ready to invest for long time period that is above four years. And if you invest with discretionary income, it makes holding bitcoin for long time to be more easier to do because you have already do all your expenses and the money that is left is now what you put into bitcoin.

Another formular is consistency and patience

Person dont need to wait only for dips before they can invest. They can invest anytime they have discretionary income. And even if person is investing small amount, it is better they ongoingly invest that small amount because with consistency, that small amount can bring good results in the long time. And when investing that small amount people should be patient for that small amount to yield good result.

[Curious T]

I've been seeing this thing a lot on the forum, and I would just like to say something about it, even though it's a bit off topic. You "create wealth" by actually creating wealth, not by investing. You need to create a product, service or company that actually gives you money. You can either be an employee who gets paid, or own your service or product that you sell; that is how you create wealth. You invest to grow the wealth you have created. All the wealthy people today created wealth through something. They either offer their services or products. Some people might be lucky enough to create wealth from investing, like the people who invested early in Bitcoin, but that is a very small percentage of the whole, and that is not something that happens often. If you don't create wealth for yourself, I'm sorry, Bitcoin won't give it to you. Bitcoin might only grow your wealth by giving you profit.

[cxtreenal]

Your article seems to emphasize patience as a way to build wealth. Your analysis is correct but to reach the patience stage you need several more elements. Accumulation Bitcoin is important but not mandatory if you do not have financial means or are poor. There is no need to make overly emotional decisions for Bitcoin. Bitcoin price is volatile and you will find it risky in the initial stage.

Start Bitcoin if you have available discretionary income, it can be any amount. After that comes the matter of patience type, have a long term investment strategy and keep this period for 4-10 years. DCA method is the best for Bitcoin through discretionary income because it allows you to exercise your financial freedom through any size fund.

[Tetu100]

Your topic alone “Bitcoin, The pathway to wealth creation” can easily get many new individuals deceived that investing in bitcoin is a guaranteed success which when they invest in it they will end up seeing the rightful outcomes which that isn’t so at all.
Bitcoin isn’t a safe investment, it an investment with risks and investing in it doesn’t mean we are going to make it out successfully or our profits are guaranteed at all, it just like any other investment too that comes with risk.
But the factors who did point out will absolutely lead us to good returns but profits ain’t guaranteed and for the new investors out there we shouldn’t invest with what we can afford to loss instead invest with our discretionary income.

Even if nothing is actually guaranteed in the crypto space and even in life at large, I can still beat my chest that if they go about it the right way by investing from their discretionary funds, having the patient to sustain till they reach up their investment time and also setting up an emergency funds to takle real life challenges so as not to be forced to sell prematurely then success is 100% guaranteed if you ask me.  But where their might be a problem is when newbies come in with the mindset of getting rich overnight. Moreover, Bitcoin is never a get rich schemes that you can just get things so fast without putting in much effort. You really need to earn it through hard work and consistency.