Bitcoin investment is not try your luck

[Jasmyne]

Bitcoin investment has to do with putting in effort and not having anything to do with luck because it is not gambling, a lot of people assume that when they invest in Bitcoin it would be possible for them to make a huge amount of money within a short period of time but that's not really possible. If you don't set your target on holding for a long term then there's no way you can make significant profit from the market, it is all about being disciplined and also being consistent as well. The results you get is based on how consistent you are.

You don't need much effort in bitcoin investment if you have got your money, a stable source of income, a good investment plan and a little know of bitcoin you are all set and ready to invest you won't need luck for anything because you are not in some kind of gambling or ponzi scheme where you will be depending on luck to make profit. Those who have the wrong investment plan will always make mistakes and think bitcoin is the solution to their financial problems, bitcoin investment is not something you do today and expect profit tomorrow investors should learn before investing to avoid them buying and selling back with no profit due to lack of patience.

[Tamaperdana]

I feel like people that think they can get lucky when it comes to investing in bitcoin are deficient of knowledge because there's no investor that has studied the market and come to understand what it is all about would depend on luck to make profit, this is the reason why i said that it is an absence of knowledge. This isn't a lottery that you can get rich from overnight,  it is a step by step process that involves a lot of patience and discipline.

if you understand bitcoin perfectly well you would understand that getting rich shouldn't be the ultimate goal, this should be used to create wealth, although everyone has their goals or what they want to achieve from bitcoin investment. If you don't have a target then I don't think you should start up this investment.

I think it's true that we must understand that investing in Bitcoin doesn't automatically make us rich, as investing in Bitcoin is a long process. So, we must remain patient and enjoy every step of the process. If we don't enjoy every step, I think we'll eventually get bored and might make bad decisions with our Bitcoin. So, with that in mind, when investing in Bitcoin, it's perfectly acceptable to aspire to wealth. In my opinion, the only thing we shouldn't do is hope for quick riches from Bitcoin.

Fundamentally, investing takes time. So, patience plays a crucial role. And also, never give up, because when investing in an asset, we must remain optimistic and be able to make everything look good. Speaking of wealth, you mentioned that it's not the primary goal. Yes, that may be true, but when we discuss this issue, it's clear that everyone's goals are very different. So of course this is very flexible in my opinion.

[bitbollo]

I am using bitcoin since 13 years "in daily life" - spendings coins for paying living expenses, services, products, even change with dirty FIAT CASH - whatever is needed like any other currency to spend.
P2p, debit cards, CEX, DEX, mostly any legal way for changing buying exchange or swapping coins.

Thats evident that I have made an investment as time,personal choice and even education by adopting bitcoin (or for example decide to refuse to accept any payment from paypal).

Anyway the bitcoin investement could be just something related investing time to learn, to make payment, to deal with the community both online or in a real setting.
Excluding some countries with a dirty rampant inflation, I would not expect much profits for investors.
Don't see the hodl or PAC strategy also the only way - probably this could be something to be made by users that have enough funds/liquidity.

Once I have realized that "abroad" from my country I would not survive a couple of weeks without bitcoin (since I have already no bank accounts) - I have realized that bitcoin investement would be also investing in a kind of "parachute" or decentralized saving (that you can access from anywhere), without a third party or any kind of secondary hardware (you have to not ask permission to no one).
I would be pessimistic, probably this "value" of bitcoin has not yet been priced, and once the masses would understand the "freedom" message it would be kind late to jump on this boat.
In the last years, global legislations introduced has not provided any real advantage to "the average joe" - in some countries has become more harder (if even not "dangerous" to use).

I have seen rarely users have profit while investing in bitcoin. Excluding the early adopters from this early era, only few "professionals" or diamond hands would get a " profit".
In the last years, the amount of scam token, fake services have been enough to take most of genuine new coiners that have tried to understand the technoloy.

[#CapsLOck]

By itself, holding for a long time is insufficient to be a good investor. It's the reason to buy Bitcoin and the financial situation that are important. For instance, if they invest all their savings in a particular stock they might have to sell it in case of a downturn of the market. This is the reason it is crucial to maintain emergency cash distinct from investments. Patience helps investors to make their trading decisions based on rationale and disciplined investment principles rather than emotions. But this does not ensure investors will make money. Bitcoin's past performance cannot promise the same results in the future. To me a good investment plan should not only involve when you make an investment, but also how much you are willing to lose without having to make a sacrifice in your everyday life.

[Makus]

Bitcoin is one investment that has to do with understanding what it's all about before putting your money into it and results that you get from it all depends on the level of your patience as well, this is the most important thing about investing in Bitcoin. There is no such thing as trying your luck because making profit has nothing to do with that, this is the difference between gambling and making an investment.

Most people try to get from Bitcoin investment that's the reason why they invest for a Short term, not all short term investors do this generally but most of them depend on luck.

[yixichloro2xx]

I feel like people that think they can get lucky when it comes to investing in bitcoin are deficient of knowledge because there's no investor that has studied the market and come to understand what it is all about would depend on luck to make profit, this is the reason why i said that it is an absence of knowledge. This isn't a lottery that you can get rich from overnight,  it is a step by step process that involves a lot of patience and discipline.

if you understand bitcoin perfectly well you would understand that getting rich shouldn't be the ultimate goal, this should be used to create wealth, although everyone has their goals or what they want to achieve from bitcoin investment. If you don't have a target then I don't think you should start up this investment.

I think it's true that we must understand that investing in Bitcoin doesn't automatically make us rich, as investing in Bitcoin is a long process. So, we must remain patient and enjoy every step of the process. If we don't enjoy every step, I think we'll eventually get bored and might make bad decisions with our Bitcoin. So, with that in mind, when investing in Bitcoin, it's perfectly acceptable to aspire to wealth. In my opinion, the only thing we shouldn't do is hope for quick riches from Bitcoin.

Fundamentally, investing takes time. So, patience plays a crucial role. And also, never give up, because when investing in an asset, we must remain optimistic and be able to make everything look good. Speaking of wealth, you mentioned that it's not the primary goal. Yes, that may be true, but when we discuss this issue, it's clear that everyone's goals are very different. So of course this is very flexible in my opinion.

Anyone that believes Bitcoin can make them rich quickly is just setting themselves up for a big disappointment. As we know, Bitcoin is a long term investment , before investor could start seeing profits is after long period of accumulation and holding. Accumulating requires lots of consistency and holding requires patience just as you've written. I have noticed that the reason why must people believe they can become rich through Bitcoin is because of the bullish cycle .  So they believe it will always keep going up, so they will enter the market with high expectations. When the market starts falling , fears then sets in, and pushes them  sell at a loss because they were only expecting quick profits.  Building wealth requires you to make lots of sacrifice, and in Bitcoin it requires consistency, patience,and proper mindset.

[Abdulzuruku01]

Bitcoin is one investment that has to do with understanding what it's all about before putting your money into it and results that you get from it all depends on the level of your patience as well, this is the most important thing about investing in Bitcoin. There is no such thing as trying your luck because making profit has nothing to do with that, this is the difference between gambling and making an investment.

Most people try to get from Bitcoin investment that's the reason why they invest for a Short term, not all short term investors do this generally but most of them depend on luck.

Yes, not only Bitcoin in all investments we need proper understanding before we put our money into them. Imagine you begin investing in Bitcoin without any knowledge, To me, that means the person isn't investing but he/she is just gambling. 

Bitcoin investment isn't about gambling where the gamblers only depends on a luck. Because this is the mistake many people make they treat Bitcoin investment as gambling and that is totally wrong. Because that’s what mostly causes FOMO and even panic selling when they see the Bitcoin price dropping. Investing in Bitcoin requires patience as you mentioned, because that will help you invest for the long term.

[Just Say]

Bitcoin investment has to do with putting in effort and not having anything to do with luck because it is not gambling, a lot of people assume that when they invest in Bitcoin it would be possible for them to make a huge amount of money within a short period of time but that's not really possible. If you don't set your target on holding for a long term then there's no way you can make significant profit from the market, it is all about being disciplined and also being consistent as well. The results you get is based on how consistent you are.

You don't need much effort in bitcoin investment if you have got your money, a stable source of income, a good investment plan and a little know of bitcoin you are all set and ready to invest you won't need luck for anything because you are not in some kind of gambling or ponzi scheme where you will be depending on luck to make profit. Those who have the wrong investment plan will always make mistakes and think bitcoin is the solution to their financial problems, bitcoin investment is not something you do today and expect profit tomorrow investors should learn before investing to avoid them buying and selling back with no profit due to lack of patience.

Just as Bitcoin investing does not require much effort, you should also understand that buying and holding Bitcoins may seem technically simple but requires mental preparation and the right strategy requires a lot of caution. Many come to the idea that basic knowledge, proper investment planning, a stable source of income and discretionary income is the only way to start Bitcoin investing, that's right but to my view it is important to learn other aspects of Bitcoin investing very quickly especially how to keep Bitcoin holdings safe.

Indeed we have seen several exchanges and Ledger and Cold Card hardware wallet hacks this year, so it seems that choosing the right wallet for investors is also a matter of basic knowledge. Also bitcoin investment is not something from which you can get rich overnight as one should accumulate enough bitcoins in the portfolio to earn returns from this investment.

[osasshem]

People who has this kind of mindset, takes everything to be Try-Your-Luck, if it becomes fruitful in the long run, they'll say they have made a good decision, and if it goes side ways, they will say they just wanted to try something new. This doesn't only work on investment, even those who wants to start up a business or do something new from what they've been doing will always want to use the term, try your luck.

Investment is for those who has made up their mind to make a good plan for their future and retirement, it is not always about luck. There are times where the market will show drop in price and when it will as well plummet to the sky.

[MusaPk]

You don't need much effort in bitcoin investment if you have got your money, a stable source of income, a good investment plan and a little know of bitcoin you are all set and ready to invest you won't need luck for anything because you are not in some kind of gambling or ponzi scheme where you will be depending on luck to make profit. Those who have the wrong investment plan will always make mistakes and think bitcoin is the solution to their financial problems, bitcoin investment is not something you do today and expect profit tomorrow investors should learn before investing to avoid them buying and selling back with no profit due to lack of patience.

Before getting started with Bitcoin, its important to understand that Bitcoin will give you good return in the long run only. Don't waste your time and money with Bitcoin, if you want to invest today and want a quick return by tomorrow. Investing for long term also require proper planning as you need discretionary income and emergency funds in place to make sure that Bitcoins are not disturbed for long term. With proper planning and consistency, one can confirm his profit from Bitcoin.   

[Stable090]

Yes, not only Bitcoin in all investments we need proper understanding before we put our money into them. Imagine you begin investing in Bitcoin without any knowledge, To me, that means the person isn't investing but he/she is just gambling. 

If you invest in bitcoin without having proper understanding about bitcoin investment, there is high chances that you might end up losing that your bitcoin. Either you store your bitcoin in a wrong place, or you might not properly protect your seed phrase, and you might lose access to it, or you might end up being scammed. We are not suppose to be in rush when investing in bitcoin, don’t invest in bitcoin just because other people are investing, make sure you do your own research before starting your bitcoin investment journey, we should have proper knowledge about bitcoin investment.

Bitcoin investment isn't about gambling where the gamblers only depends on a luck.

Bitcoin investment is not something that’s difficult, and it’s not about luck. Just take your time to understand the basics of bitcoin investment, and you can make use of DCA strategy to invest in bitcoin without having any problem. Bitcoin investment is completely different from gambling.

[Baki202]

You don't need much effort in bitcoin investment if you have got your money, a stable source of income, a good investment plan and a little know of bitcoin you are all set and ready to invest you won't need luck for anything because you are not in some kind of gambling or ponzi scheme where you will be depending on luck to make profit. Those who have the wrong investment plan will always make mistakes and think bitcoin is the solution to their financial problems, bitcoin investment is not something you do today and expect profit tomorrow investors should learn before investing to avoid them buying and selling back with no profit due to lack of patience.

It is as simple as that when you have your money they every other thing becomes very easy. As for me, after your funds are ready, then you can begin with going for the basics so that the moment everything is understood, you will be able to buy, and that way you won't need to do too much again, but after having the knowledge, then you will have to wait till when you have the resources to be able to invest, and you won't need all that. The word luck does not work or exist there, the rules are simple buy and hold, and continue to buy because there is no limitation to buying. Another thing will be aviod selling when you are nothing making profit as simple as that.

[Su-asa]

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

Some people will try their luck with trading, thinking it is a professional way to earn more money but many of the traders that tried it are losing. Instead to earn money and use it to invest in bitcoin, they earn money and use it for crypto trading and lose.

Another one are those that are fooled by altcoins. They will see the coins have fallen significantly, thinking it will get back up because they are volatile than bitcoin. The coins will not get to all time high after they have lost money significantly.

The main reason why people prefer to trade is because they are not patient enough to make money from bitcoin investment. A lot of people that are being fooled by altcoins are gamblers and not investors. Not all altcoins are terrible but it's hard to actually invest in the right one but with proper research it is possible to invest in the one that's profitable. I don't really prefer to invest in altcoins because of how volatile they are.

[leonair]

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.

A test of luck is called that where you do not get any guarantee of profit by investing. No one can say that if you invest in Bitcoin, there will be no guarantee of profit. In fact, only those who have patience can invest in Bitcoin and make a profit from there and no luck is required for this. Investing in Bitcoin is not a test of luck. Investing in Bitcoin means buying an asset. And the longer this asset can be held, the better the profit will be. However, since Bitcoin is volatile, there are some risks here, and those who want to invest in Bitcoin in a short time mostly lose. Because the price of Bitcoin can fall at any time, in this case, no one can guarantee that investing in Bitcoin will make a profit. Many people do not understand this concept and do not try to understand it, which is why Bitcoin investment is also not profitable for many.

[CryptoBuds]

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

Some people will try their luck with trading, thinking it is a professional way to earn more money but many of the traders that tried it are losing. Instead to earn money and use it to invest in bitcoin, they earn money and use it for crypto trading and lose.

Another one are those that are fooled by altcoins. They will see the coins have fallen significantly, thinking it will get back up because they are volatile than bitcoin. The coins will not get to all time high after they have lost money significantly.

The main reason why people prefer to trade is because they are not patient enough to make money from bitcoin investment. A lot of people that are being fooled by altcoins are gamblers and not investors. Not all altcoins are terrible but it's hard to actually invest in the right one but with proper research it is possible to invest in the one that's profitable. I don't really prefer to invest in altcoins because of how volatile they are.

Well, does being impatient and wanting to make money fast count as having a gambler's mindset? If so, then it's not just people throwing money at meme coins or shitcoins who are gambling. Traders would be gambling too.

Investing in altcoins is  riskier and harder because there are so many project out there. But if people kept their expectations in check, they'd see it's not that hard.  They're making it harder on themselves by chasing coins that could do 100x or even 1000x, instead of being happy with 3x, 5x or 10x gains.
Then they take a loss, they start  saying altcoins are too risky and not worth investing in, when the problem actually lie in their own expectations  and how they pick projects in the first place.