My first investment in Bitcoin was never to hold or keep for long because I know nothing about it. It was mere like a scheme that will enhance you to earn more Bitcoin when you hold it for some certain period of time.
It was later I started understanding more about my Bitcoin that this is not just a means of buying and exchanging it with multiple people to earn a little fraction. This is more like p2p trade where you buy and sell to someone that needed it more urgently. I have changed my mindset about Bitcoin and this is not just an investment but a way of life.
My exposure doing this for sometimes made me to think often time why people are so in need of Bitcoin trading with me so that they can own it and hold for reason best known to them. I have get to understand that starting something like an investment is like a stepping stone to becoming a better person around the nitch of the investment.
Everybody that have invested in Bitcoin many years ago must have understand one or two things about Bitcoin with enough experience to show for it.
There is nothing wrong with attempting to use bitcoin, yet it seems that if you are in your earliest years of bitcoin accumulation, you need to consider bitcoin as a spend and replace system, so that you are ongoingly building your bitcoin holdings for 1-2 cycles or even more than that. It can take people a long time to build up an investment portfolio, whether they are focusing on bitcoin or if they might have some other kinds of assets in their investment portfolio.
Surely, bitcoin is amongst the best, if not the best, of assets that is currently available to everyone and anyone, so there may be needs to prioritize holding bitcoin and spending with other assets and/or currencies, so we should not be "taking profits" from our bitcoin until we build our bitcoin holdings up to a certain size that might be considered excessive.. which goes back to the idea of bitcoin as an investment and even bitcoin as a place that we try to fold any profits back into it (or just let the past profits to continue to compound within the bitcoin holdings rather than depleting our bitcoin).
Even though bitcoin is not guaranteed to continue to be profitable, it still seems that if you continue to focus on and emphasize building up your bitcoin holdings, then at some certain point down the road, you will likely get to a point that you have enough or more than enough, and you can shift over from accumulation to maintenance and then later from maintenance to sustainable withdrawal. Bitcoin is likely to continue to be very powerful to attempt to utilize in a way of building it up before starting to spend from too much of it too early.
Many people especially newbies do have problem accumulating Bitcoin and this is as a result of entering the Bitcoin space not as a reserved investor but as a quick earner. My idea then was to transact Bitcoin and make small bucks while still holding without the full knowledge that people are holding it for years without touching their Bitcoin wallets because of the long term profitability.
The idea of holding Bitcoin to make profits has been the reason why many investors would sell or swap their Bitcoin once they are aware the the Bitcoin price will soon go bear. The fear of a lose is the beginning of losing. Seeing Bitcoin as an investment does not create panicking when the price is depreciating. I believe long term profitability will make the huge difference without having the mindset of buying and selling from quick changes in price of Bitcoin.
I will rather invest enough in Bitcoin and other profitable investments than rush to get my dream house. Having a personal house is a liability to me because I will always pay taxes whether I like it or not. Having multiple investments has been a dream I need to accomplish and I've been working on that.
You are likely correct in the perspective that it may well not be good to lock up too much capital in a house too soon in our lives, especiallly if we can recognize and appreciate bitcoin to be a superior place to put value.
It also may be best to focus on bitcoin and cash first before either diluting your investment or getting too scatter brained in regards to wanting to own a bunch of assets when bitcoin is likely the best (not guaranteed) places to put your time, energies and value.. yet of course, in the end it is up to you to decide how you want to proceed with your bitcoin allocation... including if you might have already invested in other assets, you might want to consider the extent that it is good to continue to hang onto those other investments or to spend some time building your bitcoin investment first.
It can be difficult to figure out when it might be acceptable to start to diversify outside of bitcoin, and each of us is responsible for our choices in regards to how we might weigh our allocations.. I personally think that trying to focus on getting a year of your expenses into bitcoin first before having any need to diversify out, and if you are ONLY investing around 10% of your income, it could take 10 years to get to a point of having had invested 1 year of your income into bitcoin.. yet surely there are folks who have higher levels of discretionary income that allows them to invest into bitcoin at higher rates.
I know Bitcoin might not be the best investment outside there but it's one of the best in terms of trust and liquidity. The demand for Bitcoin is increasing everyday as more people get to understand the mechanism behind Bitcoin investment. Patience has been one of the vital keys to sustainable investment.
Investments is meant to bring more money to me and when they are in multiples, would save me the stress and fear of getting broke again. Billionaires always think about investment, investment, investment and that is why people like Elon will continue becoming richer because they are ready to invest more without a second thought.
The extent that you are wanting to invest into areas in which you are actively involved (which seemed to have had been Elon's approach) or if you might be earning income in other ways and investing into bitcoin, these are somewhat different paths forward, so whether or not you are taking a business man path forward or if you are working for someone will depend on where you are at and/or if you are training for future work versus if you are already in an area of work that you might already be earning decently good income.
My goal is to have multiple streams of income and diversify my investment portfolio and Bitcoin as always being my major perspective even though other investments has to come in for me to be sure that I am on the right part. I have other things in mind that will be profitable for me but capital as always been the obstacle to a multiple investments procedures.
I know it's better to start small and make proper plans that will be achievable without doing it too much or getting extravagant that might be throat cutting with unreasonable interest rate.
I get inspired when I see Philipma1957 posts about investing in silver some few years ago and making huge profits from it.
Bitcoin would have probably been better, but hey if you want to get involved with silver, copper, gold or any other commodity that is your choice. It may or may not work out.
I don't have plans for that for now and I am going to throw some investments in other nitche that will generate reasonable income I can use for investment in commodity and Bitcoin. Bitcoin has been my major concern even though I will like to invest in commodity too so I can weigh the two over a long period of time.
