Profiting from BTC: just luck?

[KryptoBull]

What about miners? They have earn money, bought hardware and now spending money every day (electricity cost) to get bitcoin and sell it. If they have been minimum for a long period and has paid off hardware cost, then whenever the price of Bitcoin is, they get profit. Will you also call it luck? Or was they lucky that they have spend money and bought hardware to mine? Anyone could have done it. Anyone can do it right now. You dont have to be lucky to go and buy GPU or miner and start getting profit.

Some miners entered the market very early before 2010. I also think they were very lucky to know about BTC and try to mine some BTC. Anyway, they have become a part of BTC history.

Currently, mining BTC is a rational choice. Miners are the strongest supporters of BTC. They actually have to make a huge initial investment and suffer losses right after halving. They deserve to profit from their continuous efforts.

[Litzki1990]

Transaction fees using Bitcoin will become cheap when the volume of transactions on the blockchain decreases and that will make transactions loose and usually the fees required are only around $2 until $5 for each transaction.

Yes, the fees can be cheaper if the transaction number is decreasing. Unfortunately, we are heading the Bitcoin halving, the number of transactions must be increasing a lot. I think we may have no chance if we want to wait for the transfer fees around $2, I mostly send around $5-$6. I think it is already a bit cheap transfer fees.

We need to transact when the transaction fee is as it is. I traded bitcoins with a maximum transaction fee of $30, at that time I really needed to trade. Now transaction fees have come down a lot but for a while Bitcoin transaction fees were at abnormal levels. I don't know the exact information on what transaction fee increases. Many people say that when the price of Bitcoin increases, transaction fees increase, and many say that when the price of Bitcoin decreases, transaction fees decrease, but I have yet to find the truth. There may be specific reasons behind the rise in Bitcoin transaction fees.

[Aanuoluwatofunmi]

Making profits from bitcoin is just beyond luck, its something we can also termed as an opportunity because not all that were investing are really making the profit from their investment, but we should count it a privilege that we are doing the right thing and are seeing the right result in doing so, if you engage on inappropriate practice with your investment, you will definitely loose and there's nothing about that we can do than when we understand the necessary things required of us in other to be more profitable about our investments.

[Dr.Bitcoin_Strange]

I believe the main problem amongst several investors is that that fail to realize that the secret behind every successful bitcoin investor is their ability to HoDL at all time, especially during times that the market is fluctuating. Some investors lack this ability and then believe that the best way to succeed in bitcoin investment is via trading (otherwise considered to be gambling) rather than HODLing, they choose to take huge amount of risks that could actually jeopardize the safety of their funds.

To get the true benefit of Bitcoin, one must consider it as a long-term investment at all time, a dip shouldn't be considered the best time to sell but another opportunity to buy more Bitcoin.

[Power420]

Investing in Bitcoin is certainly possible to reap the most benefits.  Because it has been faithfully in the market for a long time, the more you invest, the more you reap the benefits. So, the sooner you invest in Bitcoin, the sooner you will reap the benefits. Because you keep buying in the deep market, the price of Bitcoin will certainly increase in 2025 when you will get the most benefit.

[KryptoBull]

Investing in Bitcoin is certainly possible to reap the most benefits.  Because it has been faithfully in the market for a long time, the more you invest, the more you reap the benefits. So, the sooner you invest in Bitcoin, the sooner you will reap the benefits. Because you keep buying in the deep market, the price of Bitcoin will certainly increase in 2025 when you will get the most benefit.

In the long term, investing in BTC is a pretty good decision: it is safe enough compared to altcoins and still has better returns than traditional assets like gold, stocks or real estate. But I think at each point in time, investors need to make decisions rationally and continue to have strong faith in the future of BTC instead of doubting and selling BTC as soon as they make a little profit or start losing 70-80%. I don't think it's an easy job or based on luck!

Even now, when BTC has been widely accepted and become a valuable asset globally, many people are still selling BTC and creating very good liquidity for the market. It's really not easy to keep believing and holding BTC to the target!