Does Buying Bitcoin Regularly Build Wealth or Just Build Confidence?

[Gragebox]

Regularly buying Bitcoin is often seen as a simple method that will lead to future prosperity and wealth. Rather than trying to predict at each moment and speculate buying or selling at a right time, the person makes a choice and always buys some of the asset.

However, even if the investor buys Bitcoins on a daily basis, he/she will not build any fortune. This is an extremely unstable digital currency and putting money into it day by day without any knowledge of the limits of personal finances is risky.

Furthermore confidence needs to be addressed in these circumstances. Although the investor is probably likely to exercise restraint because he/she has developed a specific routine, he/she still needs to be confident as there is knowledge of the risks involved.

As far as I'm concerned, this idea of consistency is worth anything only if patience, money planning and rational expectations stand behind it.

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

[Ambatman]

Bitcoin can create or change lives as much as it did in the early stage and I believe people need to come to terms with it
It would take substantial amount in having a life changing amount.

This is an extremely unstable digital currency and putting money into it day by day without any knowledge of the limits of personal finances is risky

It has volatility not unstable
And there's no investment that doesn't have it's risk.

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

It gives the feeling that you have a backup
An amount only you have access to and won't erode like our everyday fiat

[Charles-Tim]

However, even if the investor buys Bitcoins on a daily basis, he/she will not build any fortune.

Can you statistically prove this? This is not right.

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

I am saving up retirement plan fund and some other money for some other purposes in bitcoin, but I do not buy it every time. I prefer the price to first fall and I buy during bear market with dollar cost average. But that does not mean those people that are buying bitcoin regularly will not make money from it.

[HustleZ]

Regularly buying Bitcoin is often seen as a simple method that will lead to future prosperity and wealth. Rather than trying to predict at each moment and speculate buying or selling at a right time, the person makes a choice and always buys some of the asset.

However, even if the investor buys Bitcoins on a daily basis, he/she will not build any fortune. This is an extremely unstable digital currency and putting money into it day by day without any knowledge of the limits of personal finances is risky.

Furthermore confidence needs to be addressed in these circumstances. Although the investor is probably likely to exercise restraint because he/she has developed a specific routine, he/she still needs to be confident as there is knowledge of the risks involved.

As far as I'm concerned, this idea of consistency is worth anything only if patience, money planning and rational expectations stand behind it.

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

Bitcoin involves risk, so does other assets involve risk. Risk is a part of every decision we make and in order to get growth we have to take risks, with bitcoin it has been proved by the charts that whoever has Continued investing in it in the form of DCA as you mentioned (making it a Habit) so isnt it better that is at the bullish side in the long term? Along with the price it also gives several other benefits that other assets can not simply give so it is a no brainer and a very easy choice

[Jostle]

Bitcoin is like your other highly volatile stocks (or even etfs like small cap etfs). The price fluctuate wildly.  Low can go lower, or high can go higher. When to buy (timing the market) is difficult, if not impossible. It may be possible to have some rules (like what the traders do), check 50MA, etc etc and buy whenever it drops 10%. But you do not know even if it drops 10%, whether it will drop further.

I like to automate investment, and spread it out. Daily is not a good idea as I do not have the funds daily. I'd do DCA via monthly investing a fix amount into BTC. It works for me.

[Upgrade00]

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

DCA does not have to be everyday, you can buy every week or month. Just keep the frequency and amount regular and consistent. If you ate buying for roi you should be prepared to hodl for the long term depending on when you started buying and the average price you are at. If you're buying as a hedge against inflation for security, you get a deflationary asset that appreciates in value overtime.

[red4slash]

Regularly buying Bitcoin is often seen as a simple method that will lead to future prosperity and wealth. Rather than trying to predict at each moment and speculate buying or selling at a right time, the person makes a choice and always buys some of the asset.

However, even if the investor buys Bitcoins on a daily basis, he/she will not build any fortune. This is an extremely unstable digital currency and putting money into it day by day without any knowledge of the limits of personal finances is risky.

We know the risks when we buy bitcoin and we also know how volatility will always occur for bitcoin so in this case although there is no certainty that we can really be sure but by looking at how the data that happened in the history of bitcoin's development should we can be more confident that when we have bitcoin or buy bitcoin every day, every week or every month (when you can buy it) then the hope to make financial freedom is still there.

I prefer to hold until now because this is no guarantee but there is an expectation that in the future bitcoin will have more value than what we see now so even though there are no real guarantees but these expectations still I hold today as a form of my seriousness in investing in bitcoin.  In the last sentence also I want to correct that when someone is in bitcoin but without knowledge then he will fail but most of the current investors who are in bitcoin (especially in bitcoin) they should have been smart by not being in bitcoin without preparation and without studying bitcoin.

[Churchillvv]

Remember bitcoin is money and for you to earn money you have to offer a service or sell to earn, bitcoin can change life’s if only the person earns a life changing money and have bitcoin as the money, which where bitcoin benefits them is appreciation instead of depreciation.

For you to build wealth you have to know that bitcoin is only part of the wealth you build and not what will make you wealthy.

So buying regularly is just working and putting aside some money that can make you more money which is bitcoin.

[Stalker22]

~
Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

Yes, I really do see it as actual financial growth.  Historically, accumulating over a long enough time horizon has paid off tremendously compared to holding depreciating fiat.  But real financial growth comes from how much total cash you put in and how long you hold it.

However, I wouldnt go so far as to call it guaranteed growth.  Every investment has its own risks.

[Alphakilo]

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

Buying Bitcoin serve both purposes to me, as involving financial growth and management and the feeling of being secure when inflation aims to cripple my financial standing.
I didn't get into Bitcoin because I thought it was easy, but because after weighing the pros and cons it was simply the best option besides buying gold or investment in S&P 500 stocks of which may be a far reach for my income class at the moment.
No matter how bad you see Bitcoin, it gives you the chance to invest using DCA strategy and the most convenient fractional amount you can afford anytime you want. It's also a hedge against inflation and has the possibility of having a higher price index by tomorrow morning.
So while I build wealth in this way in my own little capacity, I build confidence too about the future prospects of my current disciplined investment no matter how little my investment starts out to be and that's the beauty of it.

[Mia Chloe]

~snip

Bitcoin is not to only way to wealth buying generally, in fact your confidence instead is tied strongly to you invest especially when it comes to stuff like portfolio diversification which is something people don't understand.

Similarly buying regularly is just a form of DCA and not an actual confidence builder. I think where confidence is strongly centred is how your plans for investment look like and how good they are actually playing out.

[SatsPH]

As far as I'm concerned, this idea of consistency is worth anything only if patience, money planning and rational expectations stand behind it.

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

Of course if you are consistently buying then obviously you will build your portfolio. And it's up to you how long you are going to build it. There are investors that might aim to go and build 1 BTC. But personally, it's going to be very hard to do that. That's why the key here is to build within your own capacity so that there will be no pressure on your side.

I understand that the more Bitcoin you accumulate, the better. But it could put a mental strain in you that perhaps in the middle of your planning, you suddenly succumb to the pressure. So it's better to take it at your own phase.

[Agathamay]

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

Buying bitcoin everyday definitely would help increase financial growth as well as also make you feel secure because anyone who had a good source of investment would always feel secure
Bitcoin is a volatile asset and any real investor would have to understand that, investing isn't a short term game and because of that, anyone who is getting into the industry ought to know that, with regular investing, wealth will be built and the future will be secured.

[I_Anime]

Using dca method to buy do play role in building confidence . Personally , having confidence comes from how well you known what you are investing on. The reason many still doubt bitcoin or sees it as some kind of ponzi scheme is because most of them don’t understand the technology behind or don’t know how it works . Many are just investing in bitcoin because of hype , which is wrong cause is only shitcoins that get fueled by hyping and tend . Yes , it also has plays role in bitcoin too , but the reason most folks are investing in bitcoin is because of its utility and the potential it possesses.

What I usually tell folks that are interested in bitcoin, is that don’t treat like you are investing in some kind of get rich quick schemes ( clearly Bitcoin doesn’t fall on such category) though some folks can get lucky some time . Bitcoin is more of steady growth , not some kind of pump and dump projects . So treat it like a proper investment (which it is ). Purchase it with proper planning , like using only your discretionary income.

[goldkingcoiner]

there's no investment that doesn't have it's risk.

That is true. But I would go even further and say there is no such think as no risk. Everything in life is taking a risk. There is no way out of it, yet. Maybe once humanity starts to branch out into space and developing mind-bending technologies there might be something as no risk.

[Davidvictorson]

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

Just thinking out loud, is it really possible for an individual to buy bitcoin every day? How sustainable is this ? And even if they do this, how much bitcoins worth in dollars will they buy daily?
In my estimation, unless it investing in bitcoin daily as a store of value or hedge against inflation, the reality is that one would have to buy large amounts of bitcoin to get out any profit or gain from it at this time. It is no longer as volatile as it used to be .

[Joy- maker]

Regularly buying Bitcoin is often seen as a simple method that will lead to future prosperity and wealth. Rather than trying to predict at each moment and speculate buying or selling at a right time, the person makes a choice and always buys some of the asset.

However, even if the investor buys Bitcoins on a daily basis, he/she will not build any fortune. This is an extremely unstable digital currency and putting money into it day by day without any knowledge of the limits of personal finances is risky.

I'm still surprised that a user who has spent roughly four years on the forum is still creating this type of thread. Frankly speaking,  I'm quite disappointed because after spending so much time on the forum,  I expect you to have a better understanding on how Bitcoin investment actually works.  Nobody has ever said that,  simply buying bitcoin every day will automatically make someone wealthy, DCA is only a strategy for consistently accumulating an asset over time.

[mirakal]

If its not going to build wealth or secure the future retirement, then why do people are hungry for bitcoin? I am certain its not for confidence development, but if you mean financially secured that makes you confident to face your future, maybe that makes more sense.

However, whatever our personal reason is, its still best to secure bitcoin in our wallet, if its not to build wealth, then at least to hedge against inflation since fiat itself will only worsen the situation. It will only depreciate its value in the long run and leave us at loss.

[Floxynice]

Regularly buying Bitcoin is often seen as a simple method that will lead to future prosperity and wealth. Rather than trying to predict at each moment and speculate buying or selling at a right time, the person makes a choice and always buys some of the asset.

However, even if the investor buys Bitcoins on a daily basis, he/she will not build any fortune. This is an extremely unstable digital currency and putting money into it day by day without any knowledge of the limits of personal finances is risky.

Furthermore confidence needs to be addressed in these circumstances. Although the investor is probably likely to exercise restraint because he/she has developed a specific routine, he/she still needs to be confident as there is knowledge of the risks involved.

As far as I'm concerned, this idea of consistency is worth anything only if patience, money planning and rational expectations stand behind it.

Do you see buying Bitcoin every day as the way to actual finances growth or simply the one that makes you're feeling secure?

To see the benefit of consistently buying Bitcoin, you can consider it a perfect alternative for saving your money, a savings plan that still preserves the value of your money over the period of time you invested it for. However, this will only yield positive results when you invest for a long period of time. Some people may call it savings for retirement. There is no way you will plan for the long term and be consistent with DCA that your effort will not be productive.

@op, you strike me as one of those investors who invest for instant gains. If that is what you expect from Bitcoin, then sorry, Bitcoin is not for you; Bitcoin rewards patience and consistency.

[Questat]

One thing is certain, if you are buying bitcoin regularly and hold it for long term, and bitcoin price never cease to increase its price and reach its new all time high from time to time, then obviously you'll end up getting rich and accumulate wealth once you decide to sell all your bitcoin. Although bitcoin price is never stable because of its high volatility, but if you trace back history, those who have bought and hold their bitcoin for over a decade might have been living in fortune these days. Of course, being fortunate and wealthy develop a good amount of confidence while you're at it.