Profiting from BTC: just luck?

[KryptoBull]

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}.

[TomPluz]

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. 

[bitterguy28]

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 .

[bayu7adi]

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

[retreat]

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.

[EthereumDev_]

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.

[0t3p0t]

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.

[bounceback]

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.

[Power420]

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]

[Don Pedro Dinero]

• 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.

[LogitechMouse]

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. 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).

[famososMuertos]

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.

[Gurujebs]

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.

[Sim_card]

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.

[Aanuoluwatofunmi]

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.