Bitcoin investment is not try your luck

[Zlantann]

Bitcoin investment isn't try your luck.

Investment isn't what you should think of trying your luck because if you have such thought in mind, it will make you not take your bitcoin investment serious and that will lead to losses due to wrong decisions. Investment is about building and growing that business for the future. You are not after the short term out but a long term outcome and that will make you give yourself enough time to learn, study and know the challenges in the business to prevent you from unexpected losses.

I might say that people who knew about Bitcoin at its infant stage are lucky. Not everybody was fortunate to know about Bitcoin when it was cheap. However, those who kept hodling are not just lucky; they are brave.

Bitcoin investment is just like that. It's not what you try your luck with as if you're gambling because it will make you buy out of FOMO, or buy with money that's made for your upkeep believing that you will be lucky to sell before the time you will use the money. Short term is for the smart ones but the fact is that how many of those smart traders are really smart enough to avoid losses. None of them which signifies that long term investors are the smartest.

No investment becomes successful through luck. You would have to learn how the business works. If you see Bitcoin as an asset you want to make profit from, then you would have to learn about the cycle and draw a plan. I don't advice newbies to do trading. They should at least start with DCA and learn how to master the art of trading later. Trading is risky but one can make short term profit if they become very skillful.

Ask yourself why are you here in the crypto space, to look for short term profit (weak hands) which will end up putting you in losses in the long run or you are here to build a future for yourself through your long term bitcoin investment.

What are the challenges that will disrupt a new investor one from being a long term investor.

Let's discuss.

I am here to enjoy a decentralized financial network. Bitcoin volatility have also made me use Bitcoin as an asset. So I am also here to make profit. I am not a trader because I see Bitcoin as a long term asset.

[Odohu]

I can't agree more, although we have to respect everyone because it's a personal decision. Many are good at short-term trading, while those who are not good at it are involved in long-term holding. I am not good at trading, so I invest for the long term. Someone can hold coins for even five years without conviction. Yes, I have held Bitcoin for at least two years, maybe without conviction, because many of us fear making a decision.

Many firms run short-term strategies, so we should not take them lightly. Many can become rich through short-term trading. They can even be smarter than long-term holders, and if you think you are smarter just because you are a long-term holder, you are making a mistake.

Even though I agree with you my friend, I still think that what makes a person a good Bitcoiner is holding some of it. Even if a person decides to become a trader, he should always hold some of his stash in a wallet because doing that is saving money and at the same time helping Bitcoin in creating scarcity which is needed to make Bitcoin more valuable. Don't also forget that trading comes with some measure of risk such that can make someone lose everything... if such thing happens, what is held in the wallet can just be what will save the person.

[serjent05]

Bitcoin investment isn't try your luck.

Investment isn't what you should think of trying your luck because if you have such thought in mind, it will make you not take your bitcoin investment serious and that will lead to losses due to wrong decisions. Investment is about building and growing that business for the future. You are not after the short term out but a long term outcome and that will make you give yourself enough time to learn, study and know the challenges in the business to prevent you from unexpected losses.

Bitcoin investment should be studied well.  An investor must not dive into Bitcoin investment without proper knowledge.  Investing in Bitcoin is not like gambling where we just put our money and wait for our luck. Successful investors try hard to know the market.  Some even pay for a mentor to teach team about Bitcoin investment.

What are the challenges that will disrupt a new investor one from being a long term investor.
Let's discuss.

Financial problems can disrupt a new investor from being a long-term holder.  Even if the investor wanted to hold on his stash if the consequence not favor him and he needs money for an emergency, he will be forced to sell his BTC to meet his needs.

Another problem is the lack of knowledge and failure to verify news.  Many new investors often absorb FUD seriously and swayed by the bad news into selling their stash.

[Frankolala]

One thing that I was tell people who are new to bitcoin is that they should invest for long term because that's where you will benefit the more. Long term investment helps you to plan properly and grow your stash overtime. It will even make you more organised financially since, you wouldn't want to spend too much on your wants. OP, I agree with you on this topic. Trading is for those who aren't patient enough to hodli for long.

[Felicity_Tide]

I got confused at some point, especially when you started adding "business" to the discussion. Not sure if that's supposed to be part of your writeup, but I will assume it's part of it. Well, as for the topic, I certainly agree with you. Bitcoin investment shouldn't be a "try your luck" game. The track record_{(price history)} is there, so it's not like it's still a new asset that hasn't proven itself at all. Long term investment plans are unarguably the best options for new investors, as it help them avoid reacting to certain things that can influence their investment decisions.

What are the challenges that will disrupt a new investor one from being a long term investor.

There are several things that could disrupt them, but they're not much of a big deal imo. Most times, ignorance is often a cause, and it's quite common these days to find a lot of people who are actually not willing to learn, because they're comfortable with what they already know. Take for example, FUD, which happens to be a very common challenge, especially among new investors. A person who clearly understands how Bitcoin works is barely triggered by short term market decline or rumors/negative news.

[Obari]

Most of the stories and post I've read of people talking about investment, I just realize that, people make it seem like investment is an easy task and it's just the irony of it because I do believe that, investment is a very difficult task especially in a very hard and tight economy like this where salaries can't even match the demands and expenses of the worker and that is why bitcoin investment is now advisable especially through the DCA method which allows us buy bitcoin at anytime without considering the market price.

Despite  the fact that investing is not an easy task, it is still worth it to investment in bitcoin and not just investing but investing correctly with discretional funds so we don't have touch our investment at every slightest opportunity.

[Natalim]

Ask yourself why are you here in the crypto space, to look for short term profit (weak hands) which will end up putting you in losses in the long run or you are here to build a future for yourself through your long term bitcoin investment.

If you're talking about crypto in general which includes altcoin and meme coin, then luck is still a part of it because those things are not as reputable and stable as bitcoin is.

If on the other hand you're strictly invested in bitcoin alone, there's little to nothing that luck has to do with your investment journey because everything is dependent on your investment plan and not just on some trial and error kind of thing. Just like any other kind of proper investment, you've got to be intentional about your bitcoin investment and running things purely on luck shows that you're ready to take anything as the outcome of your investment and that you're not a goal oriented investor.

However, luck should still be part in any investment, because there are really people that despite of their knowledge, efforts and hardwork towards their investment, still nothing has changed. So I guess luck is still a crucial factor. But more than luck, those who invest should prioritize risk management and discipline, effective strategies and the consistency to keep going. No investment that will bring profits instantly, patience is also a must.

[Renampun]

Investing in Bitcoin is never a way to test your luck because Bitcoin is quite a risky asset and its price can be volatile.. If someone wants to get involved in Bitcoin investment, they need to do research and understand the risks involved.. They also need to understand their capability regarding how much risk they can afford to take. So, it's not something you just jump into the market randomly and then hope that things will work out in your favor.. Instead, you need to have a clear strategy and invest in the long term to give yourself a better chance of achieving profit on your investment.

[Rockstarguy]

One thing that I was tell people who are new to bitcoin is that they should invest for long term because that's where you will benefit the more. Long term investment helps you to plan properly and grow your stash overtime. It will even make you more organised financially since, you wouldn't want to spend too much on your wants. OP, I agree with you on this topic. Trading is for those who aren't patient enough to hodli for long.

There are no two ways about it; to make it big in Bitcoin, it can only be a long-term investment. There are so many benefits that come with long-term investment. Risk management is one of the benefits because you invest to hold and do not expect to make a profit in a short time. Unlike short-term trading, where you expect a lot from the market that is so unpredictable, the risk here is very high.

In long-term investment, one has the opportunity to accumulate Bitcoin and hold. Bitcoin investment is all about being patient, and if one is solely disciplined, there are always good results from investing long-term.

[Z_MBFM]

Investing in Bitcoin should definitely be a long-term plan and it should be thought of as a big asset. Gambling is a place to test luck, here some people cannot make any profit and some people suddenly win something big. Even in trading, some people can make good profit and some only lose. These are some strategies as well as luck. However, investing in Bitcoin is investing in an asset. And any asset has a long-term plan. So why not for Bitcoin?

The problem with newbies is that they can't maintain their patience. And they are afraid of virtual investments. And they expect big profits in a short time but panic when the price is volatile. These are the most common among new investors and for them investing in Bitcoin is like a test of luck.

[Nothingtodo]

For those who are ignorant about Bitcoin, Bitcoin is just a test of luck. But for those who know a lot about Bitcoin, know about the future of Bitcoin and how its popularity is all over the world and how it was in the past, how it is now and how it will be in the future, Bitcoin is an important investment.
Those who do not know will not be able to value it, but for those who know, Bitcoin is a very valuable digital gold. So many people can compare Bitcoin with gambling and consider it as a means of testing luck, but for us it is not a test of luck but a means of changing luck.

[Silverstonez]

It is funny how people come into bitcoin with the intention of trying their luck, as if bitcoin is a gambling platform. I have seen people from my country say that they are into bitcoin to try their luck which is like treating bitcoin as casino rather than as an asset, a technology and a financial system.  Bitcoin is not a try your luck investment like many people think, if you are interested in bitcoin you should invest in it with a long term mindset, see it as a long term investment that requires patient, understanding, discipline and an understanding of its underlying value, if not you will approach it wrongly.

[JiiBs]

Investing in Bitcoin is never a way to test your luck because Bitcoin is quite a risky asset and its price can be volatile.. If someone wants to get involved in Bitcoin investment, they need to do research and understand the risks involved..

Every beginner in any field of human endeavor would always need to do just enough research to make sure they know what they are doing. It doesn’t mean you can’t try your luck but, that would just mean, the individual allowing himself/herself to be lazy. That’s to say, when you are out there trying your luck in areas where some research would have guaranteed good results, you should also expect the kind of results luck can offer.

With Bitcoin, you can either hold or trade for short term gains. While you might not need a lot of know how to be a holder, you would need a lot of knowledge experience to be a good trader. Luck wouldn’t help you here.

[Joy- maker]

How will someone even think of Bitcoin as a try your luck investment? Bitcoin is no a casino or a gambling platform where people go to try their luck, and anyone approaching Bitcoin with that kind of mindset may regret it later. Investing in Bitcoin is for the long term, not short term.  Bitcoin is a volatile asset and it price can fluctuate dramatically within a short period of time, so those coming into Bitcoin needs to understand this before putting their money.  And if you are coming into bitcoin to try your luck, believe me when I say that you are just wasting your time.

[ArabBTC]

I always recommend that before anyone chooses bitcoin as his investment plan he should first seek proper knowledge, knowledge will definitely guide your Bitcoin transactions, no one gets rich immediately through Bitcoin, it is overtime that Bitcoin yields lasting profit, if you expect Bitcoin to give you quick money you will be highly disappointed because Bitcoin is volatile, Bitcoin shouldn’t be seen or compared also to gambling where people get lucky because more work and experience is needed in Bitcoin.

[uneng]

How will someone even think of Bitcoin as a try your luck investment? Bitcoin is no a casino or a gambling platform where people go to try their luck, and anyone approaching Bitcoin with that kind of mindset may regret it later. Investing in Bitcoin is for the long term, not short term.  Bitcoin is a volatile asset and it price can fluctuate dramatically within a short period of time, so those coming into Bitcoin needs to understand this before putting their money.  And if you are coming into bitcoin to try your luck, believe me when I say that you are just wasting your time.

The problem is that there are investors who really treat Bitcoin as if it was a gambling game. I don't know if it's still quite frequent these days, but it was when I got introduced to Bitcoin. Investors bought BTC today and expected selling on the following day for high profit margins. They thought Bitcoin was a get rich quick scheme where they could invest pennies and cashout a millionaire fortune on the following days or weeks.

Of course that kind of mindset never took investors anywhere satisfactory, and many have gave up in the middle of their journeys because of their bad decisions, while blaming it was all Bitcoin's fault. As consequence, many other potential investors got fearful about starting to invest in BTC, and never went ahead for that reason.

[Rengga Jati]

Bitcoin investment is one of the most trustable investment in the world. If Bitcoin is just an asset to try luck, it won't be a part of the top world investment. After all, people who have spent their time for years in Bitcoin, they must know how trustable Bitcoin. It never disappointed us whenever the bullish season comes. People who can hold their Bitcoin until the next bullrun seaosn, they must get profits because Bitcoin always hits a new ATH. So, how can Bitcoin investment we call as an asset to try luck? People who invest in that way, they probably don't really know what Bitcoin is.

https://companiesmarketcap.com/assets-by-market-cap/

[Asuspawer09]

Most of the investors are doing Bitcoin just because they see someone doing well with it or maybe they are encourage by someone because they are saying that it would make you somehow rich easily, obviously the get rich quick scheme is already a thing because of the hype projects in cryptocurrency, that doesnt really include Bitcoin but since it was the best crypto it's also getting it's myths I guess, also there are a lot of news about it where investors in the early days are rich and billionaires these days, so people tend to do it as well without realizing what they are doing and just investing everything that they can without knowing what they are doing.

Usually, this newbie issue is that they don't know anything about it. At first, it just feels like you just need to put money in and hold, but as time goes by they are going to realize that holding long term is an a easy thing without having a good financial foundation, and that is where they usually make a huge mistake since they have weak hand they usually going to sell at a lower prices since they are afraid to hold after a few dumps in the market price.

For me the only thing that is needed was knowledge they need to understand what they are doing.

[red4slash]

What are the challenges that will disrupt a new investor one from being a long term investor.

Trust in bitcoin and are not ready to risk.  Some new people who are still unfamiliar with bitcoin will only always be focused on how profits can be obtained quickly but are not ready for the risk and volatility of bitcoin.

So when the increase occurs then they will feel that the situation is very good and their choice is quite right but when the decline occurs then most will feel that they are being deceived and consider this as a scam.
I've seen a lot of people like this not only in forums but in rl when they try to be in bitcoin and it happens because they don't believe in bitcoin and just think this is just a get-rich-quick scheme not as a means of long-term investment.

[Outhue]

Bitcoin investment isn't try your luck.


Ask yourself why are you here in the crypto space, to look for short term profit (weak hands) which will end up putting you in losses in the long run or you are here to build a future for yourself through your long term bitcoin investment.

What are the challenges that will disrupt a new investor one from being a long term investor.

Let's discuss.

Short term profit doesn't necessarily mean weak hands, see everyone who comes into this space have a goal, you can't blame anyone for selling their Bitcoin too early because you don't know what others are going through, some people right now needs $10 so badly that it will do alot for them, don't talk less of a human like yourself because the quickly sell on their investment when small profit rolls in, they need to survive, and you may never understand until you are in similar situations, I was there once and I knew how it felt.