Profiting from BTC: just luck?

[debra]

That's right, this method can be said to be saving at any price, buying bitcoin on a small scale, doing it every day using a small amount of capital is enough. After a year goes by, it won't feel like you've collected a lot of bitcoin and you're getting a lot.

It can work but it won't result in high profits. That's why many people prefer to hold a long time, they can get big profits. Sure, if we hold many Bitcoin, we can assume to get enough profits. But to hold many Bitcoin, it requires a lot of funds, common people can't do it. I think only rich people can this, they can buy Bitcoin as many as possible.

[I-Bit]

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.

[Gurujebs]

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.

Bitcoin halving doesn't really mean that transaction number have to increase and increase in the number of transactions doesn't mean that fees will increase. The mempool is a place where transaction are received by the node until they are comfirm by the miners, as long as people don't compete with each other for the next block, the fees will remain normal but if people compete for the next block, they will be increase in transaction fees because everyone will be willing to get his transaction faster.

If you remember the time of BRC20 fenziness, a lot of people are willing to pay any fees just to make sure their transaction get true and they were disrupting the mempool that even retail buyers couldn't transact because the fees were too high but now that has faced away and everything has now come back to normal.

[Wiseman]

There can only be one thing luck, if you collect satoshi by performing some actions within a few seconds a day and do this for several years and then you see that you have collected these satoshi for half a bitcoin) and this amount is already so large that you can buy yourself something expensive))

That's right, this method can be said to be saving at any price, buying bitcoin on a small scale, doing it every day using a small amount of capital is enough. After a year goes by, it won't feel like you've collected a lot of bitcoin and you're getting a lot.

This is a good accumulation strategy, on Binance there is such an accumulation and multiplication function, I don’t remember what it’s called, but the point is to keep money in some kind of cryptocurrency, you can in Bitcoin and constantly add new bitcoins, you can buy them and the exchange will multiply them.

[TopT3ns]

This is a good accumulation strategy, on Binance there is such an accumulation and multiplication function, I don’t remember what it’s called, but the point is to keep money in some kind of cryptocurrency, you can in Bitcoin and constantly add new bitcoins, you can buy them and the exchange will multiply them.

I think the feature you are talking about is Binance Staking by holding and storing assets to earn profits. From the information I read on the website, the coin choices provided are 1INCH, BUSD, BAL, BTC, ETH, and USDT. In this way, you can at least get passive income without having to trade and the bigger the capital you use, the bigger the results you get.

Source : https://www.binance.com/en/feed/post/1197765

[Wiseman]

This is a good accumulation strategy, on Binance there is such an accumulation and multiplication function, I don’t remember what it’s called, but the point is to keep money in some kind of cryptocurrency, you can in Bitcoin and constantly add new bitcoins, you can buy them and the exchange will multiply them.

I think the feature you are talking about is Binance Staking by holding and storing assets to earn profits. From the information I read on the website, the coin choices provided are 1INCH, BUSD, BAL, BTC, ETH, and USDT. In this way, you can at least get passive income without having to trade and the bigger the capital you use, the bigger the results you get.

Source : https://www.binance.com/en/feed/post/1197765

I mean the section (Dual Savings: Betting on Price Movements) is when you hold 2 different assets there and essentially Binance trades them in turn, you can read in more detail better there, but I think I got the point across and I think that this is the method the safest of the most profitable.

[$crypto$]

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.

Yes, perhaps for small investors like us, seeing the transaction costs that will be incurred is not easy, especially if the transactions are very busy which makes the transaction costs even greater. This is a dilemma for some people.

Of course, towards the halving, transaction traffic will become increasingly dense, and we can see how recently we have had to pay very expensive fees when we want to make transactions.

[KryptoBull]

There can only be one thing luck, if you collect satoshi by performing some actions within a few seconds a day and do this for several years and then you see that you have collected these satoshi for half a bitcoin) and this amount is already so large that you can buy yourself something expensive))

I don't call this effort luck, it's strong faith, great perseverance and that person deserves to get all the profit from what he has done for many years. If there is something called luck, he is lucky because he kept believing in BTC over the years to persevere in accumulating every satoshi to reach 0.5 BTC worth about 35K USD today, which is a great asset for many people. Everyone wants to be "lucky" like that, but the majority refuse to DCA BTC right now with a portion of their income in 6-10 years to get a big profit when BTC will reach 1M USD in the future.

[KryptoBull]

Yes, perhaps for small investors like us, seeing the transaction costs that will be incurred is not easy, especially if the transactions are very busy which makes the transaction costs even greater. This is a dilemma for some people.

Of course, towards the halving, transaction traffic will become increasingly dense, and we can see how recently we have had to pay very expensive fees when we want to make transactions.

Transaction fees are a part of the network and they help keep miners motivated to work. In the 2017 BTC and BCH hardfork event, we learned that the Bitcoin community chose a 1MB block size instead of 32MB to ensure miner revenue, thereby protecting the Bitcoin network. Therefore, we can see transaction fees of around a few USD as a feature rather than a limitation of the network.

Of course, I understand that this will be a problem for most small investors who want to use every cent to buy as much BTC as possible. You can buy BTC on CEX and use SegWit or Lightning Network to reduce transaction fees a bit.

[EthereumDev_]

I mean the section (Dual Savings: Betting on Price Movements) is when you hold 2 different assets there and essentially Binance trades them in turn, you can read in more detail better there, but I think I got the point across and I think that this is the method the safest of the most profitable.

Yes, coin manipulation on the Binance exchange is sometimes easy to read, but you need to know that when you want to buy coins, you have to be careful because there are lots of coins listed on the Binance exchange, you have to analyze more deeply before entering and buying the coin of your choice. If only two coins so I prefer Bitcoin and Ethereum for long-term storage on the Binance exchange.

[bitbit97]

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.

[Crypto Library]

Actually luck needed in every sector for success but skill and knowledge also needs to became successful. Success or profit never came when you don't have take any approach. So even if you don't know much about analysis you have to have fundamentals known to do long-term holding in bitcoin.
Niw lets come to your question answer:
Question one answer already given. Now 2nd answer is yes I am bitcoin holder and bitcoin itself make me believe on it. It market from 2009 to now every year it market value make forced to me believe on it. And I am planing for more two halving period holding bitcoin.

[Tribalchief]

It can work but it won't result in high profits. That's why many people prefer to hold a long time, they can get big profits. Sure, if we hold many Bitcoin, we can assume to get enough profits. But to hold many Bitcoin, it requires a lot of funds, common people can't do it. I think only rich people can this, they can buy Bitcoin as many as possible.

I think that is why the dollar cost averaging (DCA) method is recommended specifically for those who can't afford a complete unit of Bitcoin. Though the DCA method primarily specifies buying at any point in time regardless of the market condition, which I might not consider doing. I prefer to wait for a dip in price below the normal range before making a purchase.

Indeed, wealthy individuals are proficient profit makers in the crypto space. They invest their personal money in Bitcoin and end up making a reasonable profit in the long term.

[TopT3ns]

~
Question one answer already given. Now 2nd answer is yes I am bitcoin holder and bitcoin itself make me believe on it. It market from 2009 to now every year it market value make forced to me believe on it. And I am planing for more two halving period holding bitcoin.

When you plan to hold bitcoin again for the two halving periods, it is a very good plan, as much as possible, to store it in a secure hardware wallet or third-party wallet. Because if you save it at an exchange place, it is not certain that the exchange place will last for two halving seasons as you planned.

[Crypto Library]

When you plan to hold Bitcoin again for the two halving periods, it is a very good plan, as much as possible, to store it in a secure hardware wallet or third-party wallet. Because if you save it at an exchange place, it is not certain that the exchange place will last for two halving seasons as you planned.

I actually understood why you asked to use hardware wallet and I myself know the importance of hardware wallet for fund holding. But the problem is that cryptocurrency is currently illegal in the country where I live and all the devices associated with it are currently banned in our country, so I can't think of importing a hardware wallet from abroad. Because many people have to go to jail for connected with cryptocurrency.
I am currently holding or adopting 10$ of bitcoins per week on binance and when it is a bit bigger I transfer the bitcoins to my decentralize wallet. Currently working on it. Hope to have luck using hardware wallets in the future.