Profiting from BTC: just luck?

[Faisal2202]

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.

[ScamViruS]

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.

[Gideon99]

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.

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.

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
[2] MicroStrategy's Michael Saylor Made $1.2 Billion In 3 Days Following Bitcoin Boom
[3] Michael Saylor Bet Billions on Bitcoin and Lost
[4] 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
[6] El Salvador’s bitcoin experiment: $60 million lost, $375 million spent, little to show so far
[7] Nayib Bukele re-elected as El Salvador president in landslide win
[8] New York Time: Bitcoin
[9] Bitcoin fans are psychopaths who don’t care about anyone, study shows
Note:

• My opinion was posted first in that topic, on Bitcointalk
• 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.

[Gladitorcomeback]

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.

[MrSpasybo]

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.

[Fivestar4everMVP]

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.

[vegasus]

• 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.

[I-Bit]

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.

[Baofeng]

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.

[taufik123]

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.

[JISAN]

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

[Jamal Aezaz]

• 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.

[Fivestar4everMVP]

• 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]

[trendcoin]

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...

[Dr.Bitcoin_Strange]

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.