Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: KryptoBull on March 07, 2024, 02:31:04 AM

Title: Profiting from BTC: just luck?
Post by: KryptoBull on March 07, 2024, 02:31:04 AM
BTC is the first cryptocurrency introduced by Satoshi Nakamoto in 2008 with the aim of becoming the new currency for everyone in the internet age [1]. Satoshi's expectation was that BTC would be used by everyone, but currently most people see BTC as an investment to store value. I do not object that everyone has the right to access BTC, the Bitcoin network belongs to everyone, everyone can create an account, store and move BTC... but perhaps the profit from BTC is not for everyone!

Looking at the history of BTC price: after each exciting uptrend, there is a harsh downtrend, BTC price has decreased from 77% to 93% compared to the previous peak, simply put, BTC price has dropped 4-10 times in the crypto winter. This is the difficult time created by the market to test the diamond hands of BTC holders, and also to reveal the anti-fans and challenge the faith of the strongest BTC supporters.

(https://www.tradingview.com/x/ZDFejkTB/)

Michel Saylor is currently an extremely famous figure in the crypto world for helping MicroStrategy make a profit of over $6 billion from its 193K BTC budget, which has been continuously accumulated since 2020 [2], and for helping MSTR's stock price increase by over 800% in 3.5 years. However, Saylor is also the person who has been criticized and attacked by the media in 2022 [3].

Even more famous than Michal Saylor is Nayib Bukele - the president of El Salvador, the first country in the world to accept BTC as a legal tender alongside $US in 2021 [4]. Besides the huge benefits for El Salvador such as helping people access financial services without depending on banks, reducing transaction and remittance costs, attracting tourists and foreign investment..., the reserve of 2380 BTC from the policy of mining and DCA BTC has also helped El Salvador earn a profit of over 40% [5]. However, we also cannot forget that in 2022, Nayib Bukele and the El Salvador government were criticized and attacked daily by large organizations to individuals in the market, from financial news sites to social networks and Youtube [6]. I believe that Nayib Bukele has dared to risk his entire political career to bring El Salvador into the Bitcoin era, he is fully deserving of being re-elected president of El Salvador to contribute more in the next term [7].

Nayib Bukele: “When Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses. Now that Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our citizenship program”.

Similarly, large media outlets do not give up any opportunity to abuse BTC to attract readers. The New York Times is constantly updating news about the positive price movements of BTC recently [8], but in 2022, in the midst of the crypto winter, they also posted an article talking about the correlation between crypto investment and the "dark tetrad" - a combination of narcissism, Machiavellianism, psychopathy, and sadism [9].

This shows that it is not easy for investors in this market to keep faith and continue to invest in BTC, so the success and profits for BTC holders are completely deserved and not just luck! There is a joke in my country: "The best way to hold BTC is to go to jail", but I think even going to jail can't stop paper hands from selling BTC in the crypto winter.

(https://talkimg.com/images/2024/03/07/y3252.jpeg)

For me, holding BTC is not a coincidence, it is a rational choice!

I want to know your opinion on the success of BTC holders:

References:
[1] Satoshi - Sirius emails 2009-2011 (https://mmalmi.github.io/satoshi/)
[2] MicroStrategy's Michael Saylor Made $1.2 Billion In 3 Days Following Bitcoin Boom (https://finance.yahoo.com/news/microstrategys-michael-saylor-made-1-002618993.html)
[3] Michael Saylor Bet Billions on Bitcoin and Lost (https://www.wsj.com/articles/michael-saylor-bet-billions-on-bitcoin-and-lost-11659538890)
[4] El Salvador To Make Bitcoin Legal Tender: A Milestone In Monetary History (https://www.forbes.com/sites/theapothecary/2021/06/07/el-salvador-to-make-bitcoin-legal-tender-a-milestone-in-monetary-history/)
[5] El Salvador Bitcoin holdings hit record $164M as BTC profits pass $50M (https://cointelegraph.com/news/el-salvador-bitcoin-holdings-164m-btc-profits-50m)
[6] El Salvador’s bitcoin experiment: $60 million lost, $375 million spent, little to show so far (https://www.cnbc.com/2022/10/13/el-salvadors-bitcoin-holdings-down-60percent-to-60-million-one-year-later.html)
[7] Nayib Bukele re-elected as El Salvador president in landslide win (https://www.theguardian.com/world/2024/feb/05/nayib-bukele-re-elected-as-el-salvador-president-in-landslide-win)
[8] New York Time: Bitcoin (https://nypost.com/tag/bitcoin/)
[9] Bitcoin fans are psychopaths who don’t care about anyone, study shows (https://nypost.com/2022/04/12/bitcoin-fans-are-psychopaths-who-dont-care-about-anyone-study-shows/)

Note:
Title: Re: Profiting from BTC: just luck?
Post by: TomPluz on March 07, 2024, 03:47:58 AM


I only have a very minuscule Bitcoin as of the moment so maybe my answers may not be the representation of many others who can be considered as big hodlers or even the whales. I made many mistakes with my Bitcoin and I am, frankly speaking, feeling the negative effects of what I did. Unfortunately, I belong to the weak hands category of people so now I am not benefiting from the bullishness of BTC which could have a way for me to experience financial freedom.


1. Is the profit of BTC holders just from luck?
In my case, getting into Bitcoin was a little luck but since I am online for a lot of years it would just be natural for me to encounter Bitcoin but at that time less people were convinced that BTC can be as valuable as it is today. Now, holding on to BTC is something a bold decision most especially those times called as Bitcoin winters. There is always an element of luck but luck is not really enough...one must make a resolute and firm mindset not to let go and people who belong to this club are now smiling...maybe soon to the bank, so to speak.

2. Are you a BTC holder? What makes you keep believing and holding BTC?
I would still consider myself as a BTC holder even if my holding is not really significant. From the very start, I was slowly learning the many merits of Bitcoin and was bombarded with the popular message of "Just HODL" and even "buy the dip" but sadly there will always be temptations so many people are now seeing the grave mistake they made. Bitcoin represents an empowerment, an emancipation from the shackling financial system we are in, ideally speaking.

3. When will you hold BTC until?
Given the chance, I would be holding my Bitcoin until the price is reaching $200K but I am sure that along the way I would be encountering the need for money so we don't know for sure if I can follow this guideline am setting for myself. The last time I sold my 1 BTC, it was because of a need for my brother to raise more capital for his business so I made a sacrifice and for the record the price of BTC at that time was just $3000 - one of the many events I could never forget with my Bitcoin journey. 








Title: Re: Profiting from BTC: just luck?
Post by: bitterguy28 on March 07, 2024, 04:25:05 AM
Title: Re: Profiting from BTC: just luck?
Post by: bayu7adi on March 07, 2024, 05:45:37 AM
I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?

1 - No, but luck also contributes along with each strategy.
2 - Yes, I hold BTC and until now what makes me believe BTC will be valuable is its innovation and also its mechanism which is like an opposition to FIAT, I really like the competition between Cryptocurrency and FIAT.
3 - The cycle is 4 years, and my plan is to hold this year until Christmas
Title: Re: Profiting from BTC: just luck?
Post by: retreat on March 07, 2024, 05:52:23 AM
I don't think it was luck, because if it was luck then people were just guessing when buying Bitcoin and hoping that it would go up. Meanwhile, in reality, Bitcoin depends on the market, where there is demand and sales, and there is news and various other factors which all influence the price of Bitcoin. When someone has analyzed the market from the start and concluded that the price of Bitcoin will rise, and in the end it rises and he makes a profit, then that is the right analysis and it is appropriate for him to get that profit. And it's not luck.
Title: Re: Profiting from BTC: just luck?
Post by: EthereumDev_ on March 07, 2024, 05:54:36 AM
1 - No, but luck also contributes along with each strategy.
2 - Yes, I hold BTC and until now what makes me believe BTC will be valuable is its innovation and also its mechanism which is like an opposition to FIAT, I really like the competition between Cryptocurrency and FIAT.
3 - The cycle is 4 years, and my plan is to hold this year until Christmas
Yes, at least everyone hopes that luck will be on their side after the hard efforts they have made. Bitcoin is indeed suitable as a long-term investment because its potentially expensive price makes those who see Bitcoin as a very good opportunity to make a profit.
Title: Re: Profiting from BTC: just luck?
Post by: 0t3p0t on March 07, 2024, 01:33:15 PM
1. Is the profit of BTC holders just from luck?
2. Are you a BTC holder? What makes you keep believing and holding BTC?
3. When will you hold BTC until?
1. Literally no! I don't know who among us here think it was just luck as we all know that we spend our time and effort to use dollar cost averaging just to make profit with Bitcoin or even make risky trades. Though trading needs a little bit of luck but it is not like gambling wherein we need 98% luck and 2% skills in order for us to win. With DCA there is no such thing as luck.
2. Yes I am a Bitcoin holder and what makes me believe and hold Bitcoin is it's potential and opportunity to achieve financial freedom.
3. I think 2025 if things goes right. Though it will still depends on the situation and it is too early to decide as a lot of things might happen along the way to that year so yeah let's see how it goes.
Title: Re: Profiting from BTC: just luck?
Post by: bounceback on March 07, 2024, 01:55:42 PM
Investing or earning profitable form bitcoin investment is not regarding luck and has difference thing when gamble depend on our luck, they have research and smart analyze before investing in bitcoin by entry with lower price and keep loyal hand waiting for until bitcoin raise more higher price.
I think all profitable earned from investment such as real business or bitcoin not literally based on luck because many people or investor have learn more before investing their money in bitcoin or build up the business. Luck depend if profitable earn without make any research and try to learn more before investing.
Title: Re: Profiting from BTC: just luck?
Post by: Power420 on March 07, 2024, 02:10:22 PM
    1.
    • Is the profit of BTC holders just from luck?

    Answer = no and will never be because we worked and spend for this and also risked so much .

    2.
    • Are you a BTC holder? What makes you keep believing and holding BTC?

    Answer = Because I already made some good profit in this , and also this helps me have transactions in all parts of the world easily and safely.

    3.
    • When will you hold BTC until?

    Answer =  till Forever?  exaggerating but true .
There is no point in keeping Bitcoin away forever, it is best to plan and keep it away for a specific period of time. A Bitcoin holder has a plan for at least five to ten years and many prove themselves to be solid investors by holding out for shorter periods and longer periods. I am also a Bitcoin holder I myself have accumulated almost a lot of money buying Bitcoins. I intend to hold my bitcoins until at least 2032, from where I want to reap massive benefits.
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Title: Re: Profiting from BTC: just luck?
Post by: Don Pedro Dinero on March 07, 2024, 03:41:19 PM
  • Is the profit of BTC holders just from luck?

No.

  • Are you a BTC holder? What makes you keep believing and holding BTC?

I believe that both the history of bitcoin and its essential properties show that it has a great future, mainly as a store of value, as I do not believe that it will be used as a currency in the future. This is why I believe that adoption will continue to increase, which together with the reduction in supply by the halvings will continue to increase the price.

  • When will you hold BTC until?

I plan to have some bitcoin for a lifetime. This is not an investment that I plan to hold until some point in the future, and then sell it all and forget about it. I am doing DCA to buy, but at high points I plan to sell as well.
Title: Re: Profiting from BTC: just luck?
Post by: LogitechMouse on March 07, 2024, 04:04:32 PM
For me, holding BTC is not a coincidence, it is a rational choice!

I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?
1. Nope. For me, it's my choice to invest in Bitcoin and fortunately make a profit from it. I believe that I will make a profit when I invest in Bitcoin which makes me profitable. Luck isn't involved with my decisions because, in the first place, I knew the risk that I was involved with. Investing into Bitcoin isn't the same as gambling in dice or whatever gambling game it is that only requires luck.

2. Yes I am ever since the last bull run of 2021. :D Kind of funny but I choose to hold at that time instead of selling all of my holdings and re-buy them during the bear market last 2022. What made me keep believing and holding BTC? As I said, my belief that I can make a profit if I hold Bitcoin for a long period made me hold it. I mean we will all agree that Bitcoin is a very good long-term coin to hold, right? We believe that the longer we hold Bitcoin, the larger the profit we can make.

3. Until the peak of the upcoming bull market. If that is reached, I will sell a huge percentage of my portfolio, keep some of the money for re-investing during the bear market, and use a portion of it for something important (maybe re-allocate into safer assets like Stocks).
Title: Re: Profiting from BTC: just luck?
Post by: famososMuertos on March 07, 2024, 05:15:53 PM
I don't know how the adjective luck can justify bitcoin profits for anyone, maybe once, twice, but definitely calling any Bitcoin profit today lucky is to have no idea about the asset in which you invest.

The idea of hold bitcoin is always partial and leaving it only represents a momentary action, nothing more, those who do not think about luck are in the idea of... and fortunately that is how it is, we must sell, we must buy and we must hodl, it is that simple, and!, maybe  some users who want to undertake Projects.  Consequently none of those actions are aimed at luck.

 
Bukele is a great leader for bitcoin, but his re-election has nothing to do with his idea of ​​​​implementing bitcoin.
Title: Re: Profiting from BTC: just luck?
Post by: Gurujebs on March 07, 2024, 05:30:38 PM
I will called it luck for people that are not opportune to experience life of traditional finance but with Bitcoin people that doesn't have idea of what investment is about today has Bitcoin in their portfolio, people that didn't get they chance to invest in stocks that has grown in the past years are lucky to be making it from Bitcoin, this is the legacy of Satoshi and footprint on everyone that has buy and sell Bitcoin.

If today Bitcoin never exist, so many opportunities that we have today might not even be here, look at how bullish Blackrock has become with Bitcoin and their ETF, the profits from personal investment and profit from trading ETF fees, all are due to Bitcoin existence.
Title: Re: Profiting from BTC: just luck?
Post by: Sim_card on March 07, 2024, 05:51:51 PM
I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
It is never luck, because they were patient enough to wait for the compounding value of bitcoin, and this can be achieved through sacrifice. A lot of people rush into trading because they think that bitcoin investment takes a very long time to be profitable, and they cannot patiently wait.

  • Are you a BTC holder? What makes you keep believing and holding BTC?
Yea, I having being holding and accumulating bitcoin since 2022 December. I have the believe in bitcoin to be the future safe haven, and is the best investment with high returns currently. I also don't know how to invest in other assets because I am not rich, but bitcoin gave me the opportunity to have an investment even though I am a low income earner. My bitcoin investment is what I will fall back to at old age.

  • When will you hold BTC until?
Bitcoin will be part of my life because it is worth it. Who will have a company that is flourishing, and decide to sell the company and keep the money to himself. As long as I am living, my bitcoin investment will continue, because bitcoin price increases with time line.
Title: Re: Profiting from BTC: just luck?
Post by: Aanuoluwatofunmi on March 07, 2024, 05:52:50 PM
Making profit from bitcoin has gone beyond ordinary luck, we need to know what we are doing, conduct some level of research and as well take risk in making investment in it, this is not like gambling that we just expect luck to come in any way, am not assuming there's no luck as well in making investment in bitcoin, but things were not just done like that, we have to prepare and plan for them to make it all happen and profitable.
Title: Re: Profiting from BTC: just luck?
Post by: Faisal2202 on March 07, 2024, 06:45:00 PM
There is a joke in my country: "The best way to hold BTC is to go to jail", but I think even going to jail can't stop paper hands from selling BTC in the crypto winter.
BTC investments must be very common in your country because if it were not, then why would be there such a saying, in my place it's so rare for people to invest in BTC or in any digital currency because they think it a fraud. So that's why there are not so people so not so many sayings to hear. But I liked this one.
For me, holding BTC is not a coincidence, it is a rational choice!
I also voted the same, but the first option was also right to some extent, for example, those people who bought BTC at an early stage and hold onto the BTC till now are also lucky ones but they also must have to make rational decisions in order to get good returns.
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?
1. No, the profit from BTC holding is not totally depend on luck it also depends on the rational decision that one makes.
2. Yes, Its potential makes me believe and holding BTC.
3. Until I make 3x minimum.
Title: Re: Profiting from BTC: just luck?
Post by: ScamViruS on March 07, 2024, 08:01:25 PM
Luck doesn't seem to play a role in profiting from Bitcoin. Bitcoin price depends on the market on which trend the market is going, supply and demand are the key factors here. When a big investor invests in Bitcoin before they research about the market, and analyze the market well.

And those who invest in Bitcoin without doing any research and over-trading out of impatience are the ones who actually consider luck as the main way to profit from Bitcoin.
Title: Re: Profiting from BTC: just luck?
Post by: Gideon99 on March 07, 2024, 08:28:58 PM
BTC is the first cryptocurrency introduced by Satoshi Nakamoto in 2008 with the aim of becoming the new currency for everyone in the internet age [1]. Satoshi's expectation was that BTC would be used by everyone, but currently most people see BTC as an investment to store value. I do not object that everyone has the right to access BTC, the Bitcoin network belongs to everyone, everyone can create an account, store and move BTC... but perhaps the profit from BTC is not for everyone!

Looking at the history of BTC price: after each exciting uptrend, there is a harsh downtrend, BTC price has decreased from 77% to 93% compared to the previous peak, simply put, BTC price has dropped 4-10 times in the crypto winter. This is the difficult time created by the market to test the diamond hands of BTC holders, and also to reveal the anti-fans and challenge the faith of the strongest BTC supporters.

(https://www.tradingview.com/x/ZDFejkTB/)

Michel Saylor is currently an extremely famous figure in the crypto world for helping MicroStrategy make a profit of over $6 billion from its 193K BTC budget, which has been continuously accumulated since 2020 [2], and for helping MSTR's stock price increase by over 800% in 3.5 years. However, Saylor is also the person who has been criticized and attacked by the media in 2022 [3].

Even more famous than Michal Saylor is Nayib Bukele - the president of El Salvador, the first country in the world to accept BTC as a legal tender alongside $US in 2021 [4]. Besides the huge benefits for El Salvador such as helping people access financial services without depending on banks, reducing transaction and remittance costs, attracting tourists and foreign investment..., the reserve of 2380 BTC from the policy of mining and DCA BTC has also helped El Salvador earn a profit of over 40% [5]. However, we also cannot forget that in 2022, Nayib Bukele and the El Salvador government were criticized and attacked daily by large organizations to individuals in the market, from financial news sites to social networks and Youtube [6]. I believe that Nayib Bukele has dared to risk his entire political career to bring El Salvador into the Bitcoin era, he is fully deserving of being re-elected president of El Salvador to contribute more in the next term [7].

Nayib Bukele: “When Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses. Now that Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our citizenship program”.

Similarly, large media outlets do not give up any opportunity to abuse BTC to attract readers. The New York Times is constantly updating news about the positive price movements of BTC recently [8], but in 2022, in the midst of the crypto winter, they also posted an article talking about the correlation between crypto investment and the "dark tetrad" - a combination of narcissism, Machiavellianism, psychopathy, and sadism [9].

This shows that it is not easy for investors in this market to keep faith and continue to invest in BTC, so the success and profits for BTC holders are completely deserved and not just luck! There is a joke in my country: "The best way to hold BTC is to go to jail", but I think even going to jail can't stop paper hands from selling BTC in the crypto winter.

(https://talkimg.com/images/2024/03/07/y3252.jpeg)

For me, holding BTC is not a coincidence, it is a rational choice!

I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?

References:
[1] Satoshi - Sirius emails 2009-2011 (https://mmalmi.github.io/satoshi/)
[2] MicroStrategy's Michael Saylor Made $1.2 Billion In 3 Days Following Bitcoin Boom (https://finance.yahoo.com/news/microstrategys-michael-saylor-made-1-002618993.html)
[3] Michael Saylor Bet Billions on Bitcoin and Lost (https://www.wsj.com/articles/michael-saylor-bet-billions-on-bitcoin-and-lost-11659538890)
[4] El Salvador To Make Bitcoin Legal Tender: A Milestone In Monetary History (https://www.forbes.com/sites/theapothecary/2021/06/07/el-salvador-to-make-bitcoin-legal-tender-a-milestone-in-monetary-history/)
[5] El Salvador Bitcoin holdings hit record $164M as BTC profits pass $50M (https://cointelegraph.com/news/el-salvador-bitcoin-holdings-164m-btc-profits-50m)
[6] El Salvador’s bitcoin experiment: $60 million lost, $375 million spent, little to show so far (https://www.cnbc.com/2022/10/13/el-salvadors-bitcoin-holdings-down-60percent-to-60-million-one-year-later.html)
[7] Nayib Bukele re-elected as El Salvador president in landslide win (https://www.theguardian.com/world/2024/feb/05/nayib-bukele-re-elected-as-el-salvador-president-in-landslide-win)
[8] New York Time: Bitcoin (https://nypost.com/tag/bitcoin/)
[9] Bitcoin fans are psychopaths who don’t care about anyone, study shows (https://nypost.com/2022/04/12/bitcoin-fans-are-psychopaths-who-dont-care-about-anyone-study-shows/)

Note:
  • My opinion was posted first in that topic, on Bitcointalk (https://bitcointalk.org/index.php?topic=5487866)
  • I leave the source link to avoid plagiarism accusation.
  • I excluded/ included minor things from an original thread if necessary.

There is always an element of luck when investing, if you are going to make profit from Bitcoin is just matter of luck, there are strategies that can increase your chances of making profits. Like going online browses more on the topic, do your research properly and understand it before end backing on the journey. Set a realistic goal which will increase your chances of success. Note there is always a risk of losing your money when investing, so you should invest what you can afford to lose.
Title: Re: Profiting from BTC: just luck?
Post by: Gladitorcomeback on March 07, 2024, 08:37:41 PM
I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?

(i) Maybe or maybe not you can call it luck for those who believed in Bitcoin when it was newly launched, but even then, they believed in it for the technology that was backing it up and the use cases it was providing. So, I don't think it is luck.

(ii) Yes, what makes me keep holding is the fact that Bitcoin is the strongest cryptocurrency in the market and that it generally grows higher in value over time.

(iii) I don't believe in holding forever, so I will sell when the price peaks in the bull run, buy again when the bear market is here.
Title: Re: Profiting from BTC: just luck?
Post by: MrSpasybo on March 07, 2024, 09:39:27 PM
This shows that it is not easy for investors in this market to keep faith and continue to invest in BTC, so the success and profits for BTC holders are completely deserved and not just luck! There is a joke in my country: "The best way to hold BTC is to go to jail", but I think even going to jail can't stop paper hands from selling BTC in the crypto winter.

For me, holding BTC is not a coincidence, it is a rational choice!

I want to know your opinion on the success of BTC holders:
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?
Usually, those who are on the outside of the market and look at past BTC price movements will be able to say that it is easy to get profits from BTC, they will not be able to understand the incredible pressures that the crypto winter and media have placed on BTC holders over the years. Continuing to hold and DCA BTC in the long term requires a lot of effort both mentally and physically!

1. BTC holders' profits come from their tireless efforts over many years, despite negative news and temporary losses. They use their own money to buy and hold BTC with strong belief in BTC's potential. Of course, it wasn't just luck!

2. I am also a BTC holder, the community and history of BTC give me more reason to believe that BTC is the future and that BTC price will continue to increase over time.

3. I think I will hold until BTC shows signs of reversal in 2025. I believe in the cyclicality of the market and will try to maximize the amount of BTC in my account.
Title: Re: Profiting from BTC: just luck?
Post by: Fivestar4everMVP on March 07, 2024, 10:53:02 PM
For me, the option number 2 is the best answer, because if I consciously decided to by bitcoin with my hard earned money, which means, the same opportunity is available to every other persons out there too, then when I begin to profit from that bitcoin investment of mine, that is not luck, it is simply a result of my delibrate action.

What I can consider to be luck in crypto currency is, if  wake up one morning and found 1000 bitcoins in my bitcoin wallet, with no trace of where it came from, so as to know where to send it back to, and this simply means I can not send it back even if I want to - this then I would consider to be luck, but anything outside of this, like profiting from an investment I delibrately made, then that is not luck at all, since it's a result I expected to happen or come.
Title: Re: Profiting from BTC: just luck?
Post by: vegasus on March 07, 2024, 11:46:56 PM
  • Is the profit of BTC holders just from luck?
No, if it is BTC holders, it is not a luck.
It is:
-Result of  patience
- Result of analysis
- Result of investment
- Result of knowledge

If it is trading without any knowledge and get profits, it's a luck.
but not for BTC holding.

Are you a BTC holder? What makes you keep believing and holding BTC?
Yes, because it is BITCOIN.
No matter and no reason of why BITCOIN. Because it's BTC.

When will you hold BTC until?
At least taking profits in bullish era, peak of bullish era or even closed to.
And then, started again with new investment when bearish.
Title: Re: Profiting from BTC: just luck?
Post by: I-Bit on March 07, 2024, 11:52:52 PM
We are not gambling with Bitcoin, we invest in Bitcoin. When we are investing in Bitcoin, we must have good knowledge about it. To increase the chance to get profits with Bitcoin, we must do both technical and fundamental analysis. We need some research and analysis deeply through Bitcoin market and Bitcoin current issues. This is not needed if we only get profits because of the luck.

Title: Re: Profiting from BTC: just luck?
Post by: Baofeng on March 08, 2024, 06:07:46 AM
I disagree, I don't think that there's luck has to play a big role here. I mean we are investors and so we take that risk, but a calculated one though. And if we based on bitcoin's past history, then it's a cycle that we are going to make profit, and that's what we call bull run.

And so we take that into consideration, and then slowly invest on the market until such time that we enter that cycle or phase just like where we at right now. It's not like we can't really predict or we are full of emotions when we invest. It's not, what we have is to watch the overall market, it's cycle and the sentiments and then we take profits. Lucks comes when we gambling and we really don't know what the outcome will be. In Bitcoin market it's not, we wait for the bull run, we accumulate in bear market.
Title: Re: Profiting from BTC: just luck?
Post by: taufik123 on March 08, 2024, 07:33:26 PM
We are not gambling with Bitcoin, we invest in Bitcoin. When we are investing in Bitcoin, we must have good knowledge about it. To increase the chance to get profits with Bitcoin, we must do both technical and fundamental analysis. We need some research and analysis deeply through Bitcoin market and Bitcoin current issues. This is not needed if we only get profits because of the luck.
I totally agree with you, investing in bitcoin is not like gambling which will only be influenced by luck alone.
But investing in Bitcoin is not just buying an asset, but we have to hold it to reach the price target to be achieved.

Not just expecting a Jackpot like gambling, although some trades like Futures or Binary Options that do seem like Gambling,
it is certainly different from real Bitcoin and traded.

Technical and Fundamental Analysis will tell us what will happen to Bitcoin,
it will provide information on market conditions and where the market will go.
Gambling will only give you 2 choices, profit or loss.
Title: Re: Profiting from BTC: just luck?
Post by: JISAN on March 08, 2024, 07:50:47 PM
Profiting from Bitcoin is not a matter of luck, it depends on your own good analysis, good prediction and patience. Bitcoin is a powerful digital asset to be invested in, not bet. Betting depends on luck but investing depends on your skill. So one who can do good research will be able to make good profit from Bitcoin and other cryptocurrencies otherwise no matter how much fortune one has he will not be able to do well in trading or investment. so you must have to accept that profit from bitcoin is not depend on luck
Title: Re: Profiting from BTC: just luck?
Post by: Jamal Aezaz on March 08, 2024, 08:23:42 PM
  • Is the profit of BTC holders just from luck?
  • Are you a BTC holder? What makes you keep believing and holding BTC?
  • When will you hold BTC until?

No! The profit of bitcoin holders are not just because of luck as they work for it, make investment by using his money, utilise strategies and also decide with patience as well as they are accepting both dump and pump and work according to it. If it was on luck that after a dip or pump we will not see any changes in market and people will must decide one thing during harsh condition so may be there was no option of waiting more to avoid losses and increase profit.

Every person makes a target so the decision of selling their bitcoin will totally depends on their target and I think everyone will have target of 100k$ which is possible to happen after halving.
Title: Re: Profiting from BTC: just luck?
Post by: Fivestar4everMVP on March 08, 2024, 09:28:37 PM
    • Is the profit of BTC holders just from luck?
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    • When will you hold BTC until?

    Every person makes a target so the decision of selling their bitcoin will totally depends on their target and I think everyone will have target of 100k$ which is possible to happen after halving.
    Bitcoin made it to a little above $70,000 dollars today before it dropped to around $66,000, and right now, it's up again and sitting around $69,000.

    Halving is next months and we still have like a month to it, which also means that we still have time, if the whales  that have been manipulating the price if bitcoin will allow it, with bitcoins performance so far, we may likely see bitcoin reach the milestone of $100,000 before the halving occurs, and after the halving, bitcoin will head to $200,000 to $300,000.
    But then, like I said, if the whales will allow it, for I do not think the whales are done accumuling below the previous all time high, so, for this reason, they may likely keep the price down for a while, and allow bitcoin shot up after the halving. [/list]
    Title: Re: Profiting from BTC: just luck?
    Post by: trendcoin on March 08, 2024, 10:28:04 PM
    My answer to the first question is definitely no. Those who equate Bitcoin with luck usually don't know about Bitcoin and see it as a gambling tool. You can't explain something to people who know nothing about it. No matter what you tell them, you cannot change their minds. My answer to the second question is yes, and if I have to answer the third question, I will keep it because it is a limited supply asset...
    Title: Re: Profiting from BTC: just luck?
    Post by: Dr.Bitcoin_Strange on March 08, 2024, 11:46:18 PM
    In my Opinion, profiting from Bitcoin is not by luck,  it is certain that everyone that invest in Bitcoin should make profit but the cause of not making profit in Bitcoin is dependent on the way investor handled his investment.

    If for example, I spent $30k today and buy Bitcoin, then I realized tomorrow that I needed to use that $30k for another project, meanwhile Bitcoin have already dropped to from $67k to $58k but I have not choice than to sell, definitely I will be at lose which was my fault and not the fault of Bitcoin. Someone can still buy that same quantity I bought that day and hold it till when his is satisfied with q high price to sell and make his profit.
    Title: Re: Profiting from BTC: just luck?
    Post by: Wiseman on March 09, 2024, 07:20:31 AM
    It can be luck for those who have a lot of money and who bought bitcoin 10 years ago just because he decided to buy something and then he forgot about it for many years and somehow remembered that he has a wallet and there are bitcoins, it is rather an exception and it may not even exist, but to give an example of such an example I think it is necessary, nothing happens just like that and if we take bitcoin and this issue as an example, I think that it is a conscious choice rather than some kind of luck.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on March 11, 2024, 01:42:01 AM
    It can be luck for those who have a lot of money and who bought bitcoin 10 years ago just because he decided to buy something and then he forgot about it for many years and somehow remembered that he has a wallet and there are bitcoins, it is rather an exception and it may not even exist, but to give an example of such an example I think it is necessary, nothing happens just like that and if we take bitcoin and this issue as an example, I think that it is a conscious choice rather than some kind of luck.
    The strong price increase of BTC in the 3 seasons 2013 - 2017 - 2021 was enough for BTC to become famous and known globally, I don't think anyone can forget that he once accidentally bought BTC in the past when his BTC worth a fortune in the present. Although he has a long-term vision, perseverance with that goal and belief is also an effort and a risk trade-off in case BTC is just a financial bubble. He completely deserves the huge profits that he chose and created himself.

    In my Opinion, profiting from Bitcoin is not by luck,  it is certain that everyone that invest in Bitcoin should make profit but the cause of not making profit in Bitcoin is dependent on the way investor handled his investment.

    If for example, I spent $30k today and buy Bitcoin, then I realized tomorrow that I needed to use that $30k for another project, meanwhile Bitcoin have already dropped to from $67k to $58k but I have not choice than to sell, definitely I will be at lose which was my fault and not the fault of Bitcoin. Someone can still buy that same quantity I bought that day and hold it till when his is satisfied with q high price to sell and make his profit.
    Luck is just one of the things we can see in a successful person thanks to BTC. Besides luck, the investment journey also requires trust, loss experiences, trade-offs of time and effort..., unfortunately these things are difficult to see and recognize by the people outside the market.
    Title: Re: Profiting from BTC: just luck?
    Post by: Wiseman on March 11, 2024, 08:17:38 AM
    The strong price increase of BTC in the 3 seasons 2013 - 2017 - 2021 was enough for BTC to become famous and known globally, I don't think anyone can forget that he once accidentally bought BTC in the past when his BTC worth a fortune in the present. Although he has a long-term vision, perseverance with that goal and belief is also an effort and a risk trade-off in case BTC is just a financial bubble. He completely deserves the huge profits that he chose and created himself.

    In 2013 a few hundred people knew about bitcoin and those who were on the bitcointalk forum, in 2017 a lot more people learned about it, but they were also very few and mostly knew about it as a kind of opportunity to profit from mining on video cards and asics and only in 2021 about bitcoin began to talk in the media as that it is a cryptocurrency and it is real.
    Title: Re: Profiting from BTC: just luck?
    Post by: bhadz on March 11, 2024, 09:32:29 AM
    It is not luck but in accordance of research, you did your part of attracting that luck to yourself when you've Bitcoin. If you've been holding for so long and people still say that you're in luck, they're crazy as they don't know the struggle of holding and buying bitcoin. The psychological effect that it gives to any person is tough and they can't even attain to buy a few from it, so anyone who keeps on DCAing and holding it know what they do and it is no luck.
    Title: Re: Profiting from BTC: just luck?
    Post by: Litzki1990 on March 12, 2024, 06:55:57 AM
    Not only your luck helps in making money profit by investing but also your trading skills as well as courage to hold, tendency to take risks play a very important role. I feel that luck does not play a role in earning profit by investing but if it does, it is one's investment skills and patience. If we don't have an idea about investment and if we can't be patient and hold the investment for a certain period of time, we can never get profit from the investment. Assuming that we invest without understanding anything about investment, then after making that investment, we will not have an idea about when we will sell the investment, so even if the market increases, we will not be able to take the profit. So luck has no influence in earning profit by investing.
    Title: Re: Profiting from BTC: just luck?
    Post by: NikeFit_7777 on March 12, 2024, 10:49:32 AM
    1. Of course the result, what luck can there be if users purposefully hold the asset (for the prospect of income).

    2. Faith in the asset. As long as it is there, the price is formed. Once users stop believing, the price of bitcoin will be 0

    3. Until I see at least 150 thousand, for 1 bitcoin. Anything lower than that is of absolutely no interest to me.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on March 15, 2024, 12:16:12 AM
    1. Of course the result, what luck can there be if users purposefully hold the asset (for the prospect of income).

    2. Faith in the asset. As long as it is there, the price is formed. Once users stop believing, the price of bitcoin will be 0

    3. Until I see at least 150 thousand, for 1 bitcoin. Anything lower than that is of absolutely no interest to me.
    Perhaps the luck of BTC holders is that BTC is an asset that has continuously increased over time. An investor who buys BTC today will definitely have a profit in 4 years. Many other assets and tokens cannot do the same.

    I also hope BTC will reach 150K USD this season. Many experts are talking about higher prices, but usually they are too optimistic in an uptrend or too pessimistic in a downtrend. I think I will partially close my portfolio when BTC reaches $150K, hope it will come by mid-2025.
    Title: Re: Profiting from BTC: just luck?
    Post by: 0t3p0t on March 15, 2024, 08:29:18 AM
    1. Of course the result, what luck can there be if users purposefully hold the asset (for the prospect of income).

    2. Faith in the asset. As long as it is there, the price is formed. Once users stop believing, the price of bitcoin will be 0

    3. Until I see at least 150 thousand, for 1 bitcoin. Anything lower than that is of absolutely no interest to me.
    Perhaps the luck of BTC holders is that BTC is an asset that has continuously increased over time. An investor who buys BTC today will definitely have a profit in 4 years. Many other assets and tokens cannot do the same.

    I also hope BTC will reach 150K USD this season. Many experts are talking about higher prices, but usually they are too optimistic in an uptrend or too pessimistic in a downtrend. I think I will partially close my portfolio when BTC reaches $150K, hope it will come by mid-2025.
    If it is some sort of a luck then I consider it our choice of luck to hodl Bitcoin since it is not comparable to gambling that solely based or depends on luck just to make profit through winning.

    No doubt Bitcoin will reach that price range but that only question here is when though we are hoping that it will happen this year or next year but maybe we are getting more or less than that so yeah the only way we can prepare for that speculation is to hodl hodl and hodl.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on March 16, 2024, 08:27:48 PM
    If it is some sort of a luck then I consider it our choice of luck to hodl Bitcoin since it is not comparable to gambling that solely based or depends on luck just to make profit through winning.

    No doubt Bitcoin will reach that price range but that only question here is when though we are hoping that it will happen this year or next year but maybe we are getting more or less than that so yeah the only way we can prepare for that speculation is to hodl hodl and hodl.
    We can call it luck based on trust and wise choices, not gambling luck. This luck can be completely mastered when we are willing to spend time learning about BTC and this market. I believe that many people can still be lucky if they believe that BTC can reach $1M in the future!

    I'm not good at timing and the market is very positive, we just need to follow the market development and the price increase of BTC and many other tokens. I hope that BTC will reach $150K but I will also be ready to start selling my crypto assets in 2025 when the market shows clear signs of a reversal.
    Title: Re: Profiting from BTC: just luck?
    Post by: yhiaali3 on March 16, 2024, 09:08:41 PM
    In the early days of Bitcoin, it may have been just luck for some who bought and forgot about Bitcoin in their wallets for a long time and then woke up to a crazy price rise, but after that it was no longer just luck, it was actually a rational choice.

    It is not easy for all people to believe in something new and continue steadily on the same path until achieving success, as happened with Saylor or Bukele. Yes, these people have proven their practical belief in Bitcoin despite the severe criticism they were subjected to in the winter of cryptocurrencies.

    As for me, I am a bit of a Bitcoin holder, albeit a small amount, and I believe that Bitcoin is a successful investment in the long term, as it is a hedge and a store of value at the same time.
    Title: Re: Profiting from BTC: just luck?
    Post by: DaNNy001 on March 16, 2024, 09:31:27 PM
      1.
      • Is the profit of BTC holders just from luck?

      Answer = no and will never be because we worked and spend for this and also risked so much .

      2.
      • Are you a BTC holder? What makes you keep believing and holding BTC?

      Answer = Because I already made some good profit in this , and also this helps me have transactions in all parts of the world easily and safely.

      3.
      • When will you hold BTC until?

      Answer =  till Forever?  exaggerating but true .
    There is no point in keeping Bitcoin away forever, it is best to plan and keep it away for a specific period of time. A Bitcoin holder has a plan for at least five to ten years and many prove themselves to be solid investors by holding out for shorter periods and longer periods. I am also a Bitcoin holder I myself have accumulated almost a lot of money buying Bitcoins. I intend to hold my bitcoins until at least 2032, from where I want to reap massive benefits.
    [/list]
    That's the spirit mate, 2032 wow! , I don't know if these are mere words written here but I think if it's true then you are definitely a true definition of a holder. Keeping your Bitcoin is something that every Bitcoin plans to do knowing fully well the benefits that's involved in it and that's why many people in the crypto space are on the conclusion that holding Bitcoin is probably the best thing but there is a fact that comes with holding this Bitcoin too and that's the fact that it's not as easy as people actually say it to be because you need to be fucking discipline and strong and most especially not hoping to feed from it so getting a real job that takes your mind off it is probably best and keeping Bitcoin is never something of luck because you see the strategic growth of the market and how things build up bit by bit till the final success is achieved.
    Title: Re: Profiting from BTC: just luck?
    Post by: Primo1760 on March 16, 2024, 11:48:18 PM
    I want to know your opinion on the success of BTC holders:
    • Is the profit of BTC holders just from luck?
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    • When will you hold BTC until?

    No btc holders profit comes from luck only, risk must be taken here, investment must be made and then profit can be reaped. Now if I just sit on luck without investing, but profit will never be made. But whenever I take risk and invest, I get success. That's why I say BTC holders' profits don't come from luck. Yes I am definitely a BTC holder.  Success helps me hold BTC. I will definitely hold onto my bitcoin until sir market until new ATH is created in the bitcoin market.
    Title: Re: Profiting from BTC: just luck?
    Post by: Google+ on March 17, 2024, 09:34:06 AM
    No btc holders profit comes from luck only, risk must be taken here, investment must be made and then profit can be reaped. Now if I just sit on luck without investing, but profit will never be made. But whenever I take risk and invest, I get success. That's why I say BTC holders' profits don't come from luck. Yes I am definitely a BTC holder.  Success helps me hold BTC. I will definitely hold onto my bitcoin until sir market until new ATH is created in the bitcoin market.
    So would you say the same thing to those who managed to hold Bitcoin from 2010 until now? It's true that not many people do that, but I'm sure there are some people who are successful and still have access to their personal wallets and now they have managed to become very rich. For now, I still believe Bitcoin could become more expensive than this year because the supply is increasingly limited. will make the price higher than now and of course it requires quite a long process.
    Title: Re: Profiting from BTC: just luck?
    Post by: 0t3p0t on March 17, 2024, 10:21:03 AM
    If it is some sort of a luck then I consider it our choice of luck to hodl Bitcoin since it is not comparable to gambling that solely based or depends on luck just to make profit through winning.

    No doubt Bitcoin will reach that price range but that only question here is when though we are hoping that it will happen this year or next year but maybe we are getting more or less than that so yeah the only way we can prepare for that speculation is to hodl hodl and hodl.
    We can call it luck based on trust and wise choices, not gambling luck. This luck can be completely mastered when we are willing to spend time learning about BTC and this market. I believe that many people can still be lucky if they believe that BTC can reach $1M in the future!

    I'm not good at timing and the market is very positive, we just need to follow the market development and the price increase of BTC and many other tokens. I hope that BTC will reach $150K but I will also be ready to start selling my crypto assets in 2025 when the market shows clear signs of a reversal.
    Yeah luck that needs money, effort and timing. One of those lucky individuals are the early adopters of Bitcoin though a lot of things had happened to most of their holdings but surely they are the first batches of millionaires.

    I don't know if I can sell my holdings in 2025 I had to think of it as well since that was my initial plan a couple of weeks ago. I have new goal to achieve and maybe I had to stick into it or not since I am still thinking of it until now really hard to decide. No doubt Bitcoin will reach $150k or more we are just not that sure when.
    Title: Re: Profiting from BTC: just luck?
    Post by: Trongduy on March 19, 2024, 04:57:43 PM
    I want to know your opinion on the success of BTC holders:
    • Is the profit of BTC holders just from luck?
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    • When will you hold BTC until?
    1. In my opinion, the decision to trust and invest in and then hold BTC for the long term in order to make a profit is extremely difficult, carries many risks, and makes holders struggle, especially during the crypto winter and endure a lot of ridicule from others. Therefore, the profit for BTC holders is extremely well-deserved, and comes from a huge effort.

    2. I used to hold BTC but unfortunately sold it when I needed money to buy new equipment for work. I have chosen to DCA BTC since 2022 because I believe that BTC will recover and continue to grow in the future. And that is true!

    3. I have sold BTC so I am currently waiting for the adjustment to buy back. If I can buy BTC at a good price, I will hold BTC until 2025 to take profits in the distribution zone.
    Title: Re: Profiting from BTC: just luck?
    Post by: LUCKMCFLY on March 19, 2024, 10:39:44 PM
    I want to know your opinion on the success of BTC holders:
    • Is the profit of BTC holders just from luck?
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    • When will you hold BTC until?

    No btc holders profit comes from luck only, risk must be taken here, investment must be made and then profit can be reaped. Now if I just sit on luck without investing, but profit will never be made. But whenever I take risk and invest, I get success. That's why I say BTC holders' profits don't come from luck. Yes I am definitely a BTC holder.  Success helps me hold BTC. I will definitely hold onto my bitcoin until sir market until new ATH is created in the bitcoin market.

    The greatest benefits of bitcoin will always be seen when the bullish trend occurs, there is no doubt about that, therefore when we are operating things are usually very different, some want to have bitcoin, but they are the people who do not buy when it is cheap, At the moment the price of bitocin is high, it may be that we will obtain less sats than before, but if we consider that bitcoin will rise to more than $100k, in fact that will be the case, then or is it luck , it is something really planned and thought out It will happen like this, then there is no reason to see things as bad or anything like that, things will turn out for the better if we invest in time, that is something very intelligent and it can be done, there is no other way.

    For those who bought many years ago and didn't even remember about this and now they are Lucky, because they are people who are really very lucky.
    Title: Re: Profiting from BTC: just luck?
    Post by: JoyMarsha on March 19, 2024, 11:32:10 PM
    I want to know your opinion on the success of BTC holders:
    • Is the profit of BTC holders just from luck?
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    • When will you hold BTC until?

    1. How will I regard Bitcoin investment profits as luck whereby I make a move for it, I understand how the market works by knowing when to invest during the bearish and when to sell during the bull run.

    I can't know all this and still address my profits in bitcoin as being luck

    2. I have heard of what it has done in the past ''making millions of people millionaires'' and it is still making millions of people millionaires up to date, you can add me as one of them soon(during the bull run).

    3. Till 2025. Although I will sell some part of my bitcoin and hodl the rest until when I feel like selling again(that doesn't stop me from accumulating Bitcoin at a low price)
    Title: Re: Profiting from BTC: just luck?
    Post by: PX-Z on March 19, 2024, 11:45:48 PM
    Luck came unexpectedly, if you know and sure what is your next move, when to buy or sell and make profit, then you can't call it a luck, it's a skill. But if you don't know or no idea of the above mentioned, then just buy or sell of nowhere then make profit, then that's a luck.

    I hodl, but after the dump, obviously i convert it to stablecoins. You need rational reasons to sell don't just believe something that it will bounce back when most crypto is in red.


    Title: Re: Profiting from BTC: just luck?
    Post by: Agbe on March 20, 2024, 04:51:53 PM
    Received 1+karma for this great thread. The phrase of bitcoin is for everyone has been defeated. Bitcoin now is not for all but for the few privilege ones. One thing that is making the poor not to have access to the bitcoin network is the ordinals. When the transaction fee is very high, the following people can't have access to the network again. The poor, retail businesses, and other lower class persons. If really the transaction fee was very low as it was when bitcoin was created then bitcoin would have been the best currency in the world but for now the high transaction fee has spoiled everything that not everyone has the access to the network or purchase bitcoin again.
    Title: Re: Profiting from BTC: just luck?
    Post by: Power420 on March 20, 2024, 11:59:48 PM
    Making profit from bitcoin has gone beyond ordinary luck, we need to know what we are doing, conduct some level of research and as well take risk in making investment in it, this is not like gambling that we just expect luck to come in any way, am not assuming there's no luck as well in making investment in bitcoin, but things were not just done like that, we have to prepare and plan for them to make it all happen and profitable.

    Bitcoin has got so many transaction fees that it is very expensive to transact at present. And currently Bitcoin has fallen so low that it is very difficult to make profit from it. Because the price of Bitcoin has decreased by several times than to make a trade or hold and currently I am facing losses. So there is a little recovery at present to keep myself calm.

    Title: Re: Profiting from BTC: just luck?
    Post by: EthereumDev_ on March 21, 2024, 08:17:46 AM
    Received 1+karma for this great thread. The phrase of bitcoin is for everyone has been defeated. Bitcoin now is not for all but for the few privilege ones. One thing that is making the poor not to have access to the bitcoin network is the ordinals. When the transaction fee is very high, the following people can't have access to the network again. The poor, retail businesses, and other lower class persons. If really the transaction fee was very low as it was when bitcoin was created then bitcoin would have been the best currency in the world but for now the high transaction fee has spoiled everything that not everyone has the access to the network or purchase bitcoin again.
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: bitterguy28 on March 21, 2024, 09:07:19 AM
      1.
      • Is the profit of BTC holders just from luck?

      Answer = no and will never be because we worked and spend for this and also risked so much .

      2.
      • Are you a BTC holder? What makes you keep believing and holding BTC?

      Answer = Because I already made some good profit in this , and also this helps me have transactions in all parts of the world easily and safely.

      3.
      • When will you hold BTC until?

      Answer =  till Forever?  exaggerating but true .
    There is no point in keeping Bitcoin away forever, it is best to plan and keep it away for a specific period of time. A Bitcoin holder has a plan for at least five to ten years and many prove themselves to be solid investors by holding out for shorter periods and longer periods. I am also a Bitcoin holder I myself have accumulated almost a lot of money buying Bitcoins. I intend to hold my bitcoins until at least 2032, from where I want to reap massive benefits.
    [/list]
    That's yours mate but not ours as we all have our ow n beliefs and decisions ,if you don;t want to keep your bitcoin for long years then do so but we will remain HODLING like what those first adopters did and now seeing their product .
    I respect yours and so respect outs also .
    Title: Re: Profiting from BTC: just luck?
    Post by: Agbe on March 21, 2024, 10:29:55 AM
    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.
    Then poor people will be edge out from using bitcoin because the transaction fee bitcoin will never go down if the transaction fee can only go down when the number of users of bitcoin have reduced in the Blockchain and that is not possible again because the transaction fee as of 2021 when I meant bitcoin is not the same again. No that we are saying the price of transaction fee is very low but as for me it is still high because it still up to $2-3 dollar but before it was $0.004
    Title: Re: Profiting from BTC: just luck?
    Post by: Jamal Aezaz on March 21, 2024, 06:27:44 PM
    1. How will I regard Bitcoin investment profits as luck whereby I make a move for it, I understand how the market works by knowing when to invest during the bearish and when to sell during the bull run.

    I can't know all this and still address my profits in bitcoin as being luck

    2. I have heard of what it has done in the past ''making millions of people millionaires'' and it is still making millions of people millionaires up to date, you can add me as one of them soon(during the bull run).

    3. Till 2025. Although I will sell some part of my bitcoin and hodl the rest until when I feel like selling again(that doesn't stop me from accumulating Bitcoin at a low price)

    If you are thinking that bitcoin is luck then you will not focus on time for buying and selling your bitcoin and you will also not utilise your strategy therefore one should not consider bitcoin profit as a luck.

    If you are not altering your ideas due to unfavorable conditions of market and are still buying with DCA method and are holding bitcoin then you will also become Millionaire like that of the people in past but if your focus is just to gather money without thinking about target then you will not be a Millionaire.

    Your last point is appreciable because selling of all bitcoin is not a good idea so you are selling some during Bull season and some will be holded until you get satisfied for your success. You can still accumulate bitcoin if you posses money therefore don't stop to buy if you have money and market is dump.
    Title: Re: Profiting from BTC: just luck?
    Post by: ScamViruS on March 21, 2024, 08:45:39 PM
    That's yours mate but not ours as we all have our ow n beliefs and decisions ,if you don;t want to keep your bitcoin for long years then do so but we will remain HODLING like what those first adopters did and now seeing their product .
    I respect yours and so respect outs also .
    Yeah. We can't change someone's point of view, we can respect their point of view. Long-term holders of bitcoins win In the end, early holders of bitcoins have now received returns so high that it was beyond anyone's imagination at the time. Even at that time, many people sold their bitcoins after seeing the bitcoin correction, losing faith in bitcoin, but they took a long time to realize their expensive mistake. So many things are still being discussed. But believers like us keep bitcoins in their wallet.
    Title: Re: Profiting from BTC: just luck?
    Post by: Z-tight on March 21, 2024, 10:06:15 PM
    • Is the profit of BTC holders just from luck?
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    1. I would not call it luck, there are so many crypto events that cause the price of BTC to rise or fall and this is what makes people make profit or lose. I.e. spot etf's were approved earlier this year and we saw the influence it had on the price BTC, we are also aware of how the halving affects the price too. As long as there is demand for BTC, there is always an opportunity to earn returns if you are patient.

    2. BTC is useful, it solves real problems. It is also decentralized and there is no single point of failure, there are many reasons to hold and use BTC.
    Title: Re: Profiting from BTC: just luck?
    Post by: Captain Corporate on March 21, 2024, 10:13:43 PM
    At times it can be considered a bit of a lucky move, depends on how you got in as well. If you have done technical analysis and you have worked really hard for it and the end result is that you still get nothing, then I would understand why that would be different. However, if we are talking about a situation where you just happen to invest because you felt like it and then you make a profit? Thats purely luck and nothing more. Those are important differences and I think its going to matter a lot. You do not have to make a big change in anything, just accept that you are going to be lucky if you do not have data backing up your decision.
    Title: Re: Profiting from BTC: just luck?
    Post by: robelneo on March 21, 2024, 11:27:15 PM


    I want to know your opinion on the success of BTC holders:
    • Is the profit of BTC holders just from luck?
    No it is always a choice not because you are one of the early bird you're the only one who's going to profit, even those who comes in 5 or seven years later have made huge profit its always about making the right choice by proper analysis.

    Quote
    • Are you a BTC holder? What makes you keep believing and holding BTC?
    If you are aware on what's going on the community and how fast the adoption is you will beleive and continue to invest and hold BTC

    Quote
    • When will you hold BTC until?
    All my life I dedicated to holding Bitcoin and will allocate as inheritance to all my children because Bitcoin will continue beyond my lifetime.
    Title: Re: Profiting from BTC: just luck?
    Post by: Wiseman on March 22, 2024, 07:20:15 AM
    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))
    Title: Re: Profiting from BTC: just luck?
    Post by: EthereumDev_ on March 22, 2024, 11:16:03 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: debra on March 22, 2024, 11:39:18 PM
    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.


    Title: Re: Profiting from BTC: just luck?
    Post by: I-Bit on March 22, 2024, 11:45:42 PM
    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.

    Title: Re: Profiting from BTC: just luck?
    Post by: Gurujebs on March 23, 2024, 07:22:46 AM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Wiseman on March 23, 2024, 07:41:44 AM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: TopT3ns on March 24, 2024, 06:08:42 AM
    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
    Title: Re: Profiting from BTC: just luck?
    Post by: Wiseman on March 24, 2024, 08:04:04 AM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: $crypto$ on March 24, 2024, 10:51:08 AM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on March 25, 2024, 09:33:08 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on March 25, 2024, 10:02:47 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: EthereumDev_ on March 26, 2024, 02:51:32 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: bitbit97 on March 26, 2024, 04:45:16 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Crypto Library on March 26, 2024, 05:19:58 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Tribalchief on March 26, 2024, 05:39:32 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: TopT3ns on March 27, 2024, 03:09:19 PM
    ~
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Crypto Library on March 27, 2024, 08:17:42 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on March 30, 2024, 12:41:57 AM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Litzki1990 on March 30, 2024, 03:53:45 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Aanuoluwatofunmi on March 30, 2024, 05:18:00 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Dr.Bitcoin_Strange on March 30, 2024, 09:05:11 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: Power420 on March 31, 2024, 01:58:41 PM
    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.
    Title: Re: Profiting from BTC: just luck?
    Post by: KryptoBull on April 02, 2024, 01:41:23 AM
    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!