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4 Things I Learned as A Bitcoin Holder
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Bitcoin
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Note: Wan Fangzhong, author of this article, is a popular and prolific writer known for his creative writing. He is running a Wechat official account of wansfang.
My investment in bitcoin yielded a return of 330% in less than 20 months. Many people tweeted me asking how. Here is the whole story. I hope you can find it useful somehow.
The currency of bitcoin peaked to a value near ¥7749 per bitcoin from ¥21 with an increase of 378 times over the past six years.
When I first heard of the concept of bitcoin on February 2013, the price of bitcoin was about ¥300. There were no such big exchanges as OkCoin, HuoBi, Bixin, only some small ones that seemed unreliable to me.
Bitcoin price kept rising since October 2013: first ¥1000, ¥2000, ¥3000, and then ¥6000. It was at that time that I decided to invest in digital currency. But I didn’t buy any Bitcoin, instead, I started buying Litecoin which was more volatile but accepted by all big exchanges. At that time, people believed that Bitcoin is gold and Litecoin is silver. I bought several hundred litecoins at the price of ¥82 per Litecoin, and the price rose to ¥160 at the very next day. I put more money in it, and Litecoin price peaked to ¥260.
It came to a sudden end when PBOC, or the central bank became tougher on cryptocurrency. I found it impossible to recharge my account with credit cards and Litecoin price suddenly plunged to ¥40. My first investment in the world of cryptocurrency ended up to be a disaster.
From 2013 to 2015, the price of bitcoin kept falling. I didn’t know why, but I actually saw a big future in it.
I started buying bitcoin at the price of ¥1800 in 2015 and determined to hold bitcoin for long. Since then, I only checked the price once or twice a month, and it soared to ¥3000 in 2016. Here are my transaction records.
Bitcoin price plummeted to ¥5000 from ¥8888 for the fact that the central bank ordered exchanges to suspend bitcoin withdrawals. I figured everything would become pointless if withdrawals were suspended. Later, I sold all my bitcoins at the price of ¥7700 per coin on January 5th, 2017 and the rate of return was 3.3%.
Now I take a moment to reflect, I realize that it is all about my investment beliefs.
Stick to a long-term investing strategy.
Actually, I had been investing stocks for eight years since I was 21. I donated great time and energy. In the end, neither had I make any money or lose any money. But I was pretty satisfied about this outcome. I know some friends who stick to short term investing and ultimately lose all their investment with no exception.
No greed, no die.
The reason I lost all my investment in Litecoin in 2013 was because I wanted to earn every single penny in the market. I told myself every day:” Come on, Litecoin God. Make me rich.”
I put all my money in it and I just couldn’t afford to lose a penny. I wanted to buy Litecoin at the lowest price and sell at the highest price. I was ecstatic when the price increased and I cried like a baby when the price declined even a little bit. Now when I look back, I could not stop laughing at myself. How silly of me to think that I could predict an all-time high and an all-time low. Ridiculous!
When I started investing in bitcoin in 2015, I only used a small portion of my money and I was prepared to lose it all. When the price fell to ¥1400, I didn’t sell coins anyway. I told myself:” Chill down. It’s not the end of the world.” And moved on with my life.
Only invest in what you are familiar with.
The reason I chose bitcoin in 2015 was because I was so familiar with it. I had been searching everything about it from 2013 to 2015. I stopped buying bitcoin since January 2017 because I just don’t get it anymore. This may sound hypocritical, but I’d like to warn those newbies: do not buy bitcoin when you don’t even know what bitcoin is.
Remain clearheaded amidst a complicated investment environment.
In the world of bitcoin, there are always predictions. One day a bitcoin guru tells you the price of bitcoin will rise to ¥10000 or even ¥20000, the next day another guru tells you whoever owns 10 bitcoins will be millionaires in five years. All such predictions are bullshit.
If there is one among those stars that could guides you through the dark unknown, that’s yourself! Whoever say they can predict the accurate price of bitcoin is talking nonsense. How can you predict the future price of bitcoin when you cannot even know what will happen tomorrow?
Have you ever thought of Mt. Gox would go offline?
No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight. You have no idea what these people have gone through to be successful.
Here is my life story. I worked as a PA at a leading welding machine manufacturer in Hangzhou until one day I asked myself this question: "What would you do if you weren't afraid?" And now I am working with a group of passionate and creative people at 8btc. That's me, simple&single Cindy.
COMMENTS(75)
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
Great story. Tho his method is very common and he is right that is the problem of the investors like me who aims for a short term investment. As time pasd by i also realizes the point of storing small amount of bitcoin and wait till it booms
A great article though and what a very inspiring story from wansfang. Chinese surely is good when it comes to money matter.And I guess I’m on the right track upon reading the first thing that he did that sticking on the long term investment.That’s why I’ll keep my bitcoin for the long term investment.
“Slowly but surely”That’s a motivational story. I have few hundred $ worth of bitcoins here and I see bitcoin doublers in the internet everywhere. Fortunately, I’m very careful and I didn’t try them as they turned out to be scam. So I invested on a trusted bitcoin loan site and I gain interests overtime.Oh I just ignore bitcoin in 2013 when I first heard about it from a friend. I regret not investing that I will be holding a 6 figure $ worth of bitcoins by now since the price rise.
TLDR; You shouldn’t buy overpriced stuff. They make you lose money. You need to buy when everybody is running away, that’s how you make money. Let btc become 300-400$, let everyone say “btc is ded”;you buy all the cheap coins and become rich from their stupidity.
Love the last part and this should be drilled to the brains of those who think they knew everything.For those who are just new. Don’t get fooled by the rank of one member and think he is the genius of bitcoin. They ain’t one. They are just faster when it comes to news and got a lot more knowledge but when it comes to its price. This is the truth:Quote
Whoever say they can predict the accurate price of bitcoin is talking nonsense. How can you predict the future price of bitcoin when you cannot even know what will happen tomorrow?Have you ever thought of Mt. Gox would go offline?No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight. You have no idea what these people have gone through to be successful.
Such a great story indeed. Well anyway, for me, based on experience, i learned so much as a bitcoin holder. but the most important thing is that i learned that bitcoin is not for weak hands that in just a small dip, you will just sell your coins, afraid that you might not get profit or you might lose much. Thus, not knowing that just because you sell it right away, you actually lose much instead of gaining since bitcoin is for long term. Its just a small dip so we should take advantage for that dip and buy more not sell it.
this story can be appointed as an experience and a lesson to all other traders, certainly in this case that invest from now is better even though we do not know the problem bitcoin what will happen and grow the following year in bitcoin, but I believe it will be great in future I also prefer to invest long term
i only wish the article included dollar values of the numbers that are everywhere in the article because it is a bit hard to know what it is talking about when it is talking in terms of ¥ instead of $my strategy is mostly similar but my own. i only buy and hodl bitcoin as a “bitcoin hodler” and each time there is some big drama such as the one with ETF i get as much money as i can and put up some orders to buy low priced bitcoins and make a huge short term profit. (made 38.5% from ETF drama)
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
I see the tips on it, buy bitcoin regularly-consistently even it just small money, if you believe on it, the price will always rise. And you will get the profit after long wait. But you have to learn about it, like he said, “do not buy bitcoin when you dont even know what bitcoin is”.And this, the final interesting paragraph”No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight. You have no idea what these people have gone through to be successful”.
Quote from: mindrust on March 17, 2017, 10:25:36 AM
TLDR; You shouldn’t buy overpriced stuff. They make you lose money. You need to buy when everybody is running away, that’s how you make money. Let btc become 300-400$, let everyone say “btc is ded”;you buy all the cheap coins and become rich from their stupidity.
But that’s probably, just probably will never happen again due to the latest halving and the price is now pumped too far above the price that you mentioned. I know that it’s not entirely impossible but it seems hard to happen. I know that this thing ever happened back then when the price of bitcoin reached its peak and suddenly fall, but, when at that time, the block rewards still not being cut off half.
Unbelievable. Simply but most people do not take this way. I myself even doubt in the first place that the price would be this way. But I het my lesson now from the article. The point is we just need to keep patient. What a great story!
Timing is everything guys. You need to buy when others dumping their positions and when the price has crashed and nobody wants to touch it. You will also need to hold on for longer period of time. I heard stories of people booking profits when bitcoin hit $100 and now they regret selling. Never exit completely from cryptos as the market is quite young and money has just started pouring in.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
It is a matter of luck, patience and strategy. For some people when bitcoin was still low they do not mind to buy but when they see that there is a sudden increase in value they panic and start buyin but actually that was just a bubble and then bitcoin started to decrease in value and they panic again and they sell their bitcoin at a very lower price. But if they are just patient they will just wait for the price to go up again before they will sell their bitcoins.
His story is really inspiring, in this life we face many challenges and failures but the key is how to deal with it accept and move on.As a bitcoin holder i learned how to be patient and believe that i will achieve my goal when i didnt stop striving to make it possible.I take btc as a long term investment and when the price is dropping i take it as an opportunity to buy again. it is risky but if you have guts you will overcome those doubts.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
That article is very helpful for newbies who are getting started in investing on bitcoin because most of them are greedy and they want a fast profit scheme kind of investment but they need to always remember at least the 2 of those 4 lessons. And it is “Only invest in what you are familiar with.” this kind of lesson is the a must to remember because if you do just random investing then you will probably lose your money. And the another one is “Stick to a long-term investing strategy.” where you will maximize your possible earnings by just holding or saving for long term.
Good story for sharing the experience and it’s great guideline and help for Bitcoin beginers but actualy the most valuable experience is your own and that is the best way how you will learn things, feel your own ups and downs and get the best out of it. So hear and learn from others but don’t be afraid to try on your own.
Great article, it a great way to earn profit from crypto currencies, investing bitcoin in for a long term is a great strategy and it will be an easy way to earn profit, and I like when you mention “Only invest in what you are familiar with.”, this is the thing that all of the investor need to learned if they want to invest their wealth into crypto currencies, doing research and really find what is the potential of the coin, that is the most important thing you need to do before investing
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
Good read for a Friday afternoon. Thanks OP for sharing this story to us. I must say that his realizations are very common to investors alike but almost everyone are ignoring these facts. Most people who got into investing to BTC (or any form of assets) is always seeking to get all the money in the market and wanted to become rich very quick. We must instill in our minds that though some of us became rich in an instant, we, the general mass must look into our investments in a long-term approach. We must establish our BTC investment and take necessary decisions when it matters. Don’t be greedy and always take the long-term approach.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
Actually all this only depends upon the luck and our descion that where we are going to invest , So here I don’t think that any story of a successful investor will work for us .Here all we know that investment in the bitcoin and ND altcoins gives profit when the price increases , so it is more better to make experience about the decisions and also need better study that is only possible to share our thoughts with each other .
Quote from: jossiel on March 17, 2017, 10:21:27 AM
A great article though and what a very inspiring story from wansfang. Chinese surely is good when it comes to money matter.And I guess I’m on the right track upon reading the first thing that he did that sticking on the long term investment.That’s why I’ll keep my bitcoin for the long term investment.
You bet. If it’s comes to money, Chinese are the ones who are good on doing business, and good on managing their money, why? it because they are not afraid to lose their money, they are taking the risk to know what will happen in the end, even though they failed on a certain business, doesn’t mean that they are going to stop trying, instead, they are keep on trying things to work out until they achieve what they want, and that is to completely make more money by their businesses.And this story is really inspiring, especially for those people who quit doing bitcoin or believing in bitcoin because they have failed on their first try, but it is not enough to quit, because as long as do people live, there are still hopes, so we just have to keep on trying until we get what we want or what we need.
I have heard many stories how people get rich with bitcoin. And many of this stories were about a guy who believed in bitcoin and bought some coins just for couple cents or dollars and now he is a millionaire. But the story about buing bitcoin in 2015 when the price was pretty high already is something new.
it was a great story and its inspiring me to read whole post, only few people like Wan Fangzhong that don’t care about trading and only check the price in once a month and i am sure that now he’s making big profit to hold his bitcoin for a long time ago. its a good learning for us and we need to learn from him, the investment its should work for a long term and not for short or middle term and i think he is successful doing this. i think we are not too late to be like Wan Fangzhong as the price is not too high and imagine that in 5 years from now, the price will be increase more and more.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
Great trend of events happen in his life and then became successful later on, surely all of us have an ups and the downs in life and certainly I think all will certainly experience when one is surely moving forward in his life taking up so much problem just never give up in life and you will be fruitful in your way ahead and if GOD is surely with you, you can surely do it!
Quote from: Taki on March 17, 2017, 12:39:30 PM
I have heard many stories how people get rich with bitcoin. And many of this stories were about a guy who believed in bitcoin and bought some coins just for couple cents or dollars and now he is a millionaire. But the story about buing bitcoin in 2015 when the price was pretty high already is something new.
that is new for you i don’t mean to gloat but i have also started buying back in 2015 and when price was still low. i am not a millionaire but i have made A LOT OF PROFIT ever since i started investing in bitcoin and i have not stopped or slowed down even after this much time and i am still making more profit.i am sure if you continue this way, next year you will tell this to someone else.
a story so well, I think this is enough to inspire me. actually I was impatient, but, reading this makes me think that it might be a good strategy in developing what we have is by slowly. I acknowledge the patience you have. slowly but surely, it’s really cool.
Quote from: Taki on March 17, 2017, 12:39:30 PM
I have heard many stories how people get rich with bitcoin. And many of this stories were about a guy who believed in bitcoin and bought some coins just for couple cents or dollars and now he is a millionaire. But the story about buing bitcoin in 2015 when the price was pretty high already is something new.
yes that is a fact that a lot of people have make good money from bitcoin and still there are so many opportunities to make money from bitcoin but stil it need a lot of experience and knowledge about bitcoin if you want to make money from it.
This is a great article. I know Bitcoin users will learn a lot of thing while using this coin.
Don’t waste your time on reading full article, it’s nothing special. The main thought behind this article is this: “No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight.” In the end there is no one who can predict price accurately, all you need to do is wait for the right time to sell your coins.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
I think this is only the timing of investment at a particular timing . Here most of the people are making money from the trading ( which is similar to the investment to buy the bitcoin or altcoin ) .So here you just need the get analyze about the price range of the particular altcoin or coin in this way you can really make a big profit .Here somewhat the link post is saying same thing .
Quote from: Slark on March 17, 2017, 02:28:03 PM
Don’t waste your time on reading full article, it’s nothing special. The main thought behind this article is this: “No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight.” In the end there is no one who can predict price accurately, all you need to do is wait for the right time to sell your coins.
i agree. 8btc.com is starting to become a bit annoying with its articles these days. at first i thought it is because of translation but i am starting to think they are just poor articles and each day you see them being posted in a new topic in this board!
Facts in a nut shell.The article in the site is a paid one means the author was paid to write it, it may be reason that people do write motivational stories exaggerating the fact, You can get a lot more similar stories by searching on google “Bitcoin motivational investment”.Quote from: Slark on March 17, 2017, 02:28:03 PM
Don’t waste your time on reading full article, it’s nothing special. The main thought behind this article is this: “No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight.” In the end there is no one who can predict price accurately, all you need to do is wait for the right time to sell your coins.
I have seen similar examples in Stock trading of Plots, even Land trading works the similar way except it has much much risk of death if you have competitor.
Quote from: Slark on March 17, 2017, 02:28:03 PM
Don’t waste your time on reading full article, it’s nothing special. The main thought behind this article is this: “No matter what you do: investing in bitcoin, stocks, gold, or taking an exam or being in a relationship, do not take it as gambling, or a game of luck. Do not believe in stories about getting rich overnight.” In the end there is no one who can predict price accurately, all you need to do is wait for the right time to sell your coins.
Exactly. Giving general expected view and marketing it as “4 Things to learn as Bitcoin holder” won’t work these days. A holder of Bitcoin is smart enough to make such decisions and think this all first hand!! Better be boss of own mind and do what is best according to one’s experience. Bitcoin is most unexpected currency and no one could predict its future rightly. And if someone does, it is merely a guess!!
I have learned many things will holding bitcoins 1. Patience is everything, even though at some cases panic selling occurs we shouldn’t worry as it happens2. Ignore altcoins, as we currently see altcoins are creating chaos and many people are telling bitcoin is over ignore them just stick with bitcoin. 3. Stay away from gambling and there bankroll.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
Very useful information.I too lost by investing in bitcoins and altcoins as a short term investment.I thought day trading would give me more profits,but almost 99% of trades,i ended only with loss.I too have left the day trading technique.I heard professional traders do trade only one or two trades a month and they earn more than short term traders who do around 20 to 30 trades in that one month.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
In any endeavour there is always a loser and a winner it now depends on how chance is on individual side to determine who will win or lose. I dont see anything new I’m what he learnt as everyone here no matter how small you have invested in bitcoin, we have learnt one thing or the other and we will keep on learning. What matter is just getting ready for whatever will come out of every decision taken and that settles it.
When someone try to invest and dare to take the risk, he’ve a chance for being success.Chance means that he can also loss it but he decide take the risk, as my people named Oscar Darmawan also dare to take the risk and now he’s rich from bitcoin
Quote from: giveen on March 17, 2017, 03:13:15 PM
I have learned many things will holding bitcoins 1. Patience is everything, even though at some cases panic selling occurs we shouldn’t worry as it happens2. Ignore altcoins, as we currently see altcoins are creating chaos and many people are telling bitcoin is over ignore them just stick with bitcoin. 3. Stay away from gambling and there bankroll.
altcoin is the best field and you can easily double your bitcoin thanks to them. To traders, altcoin is one of the tools which help them to earn success in life and make income almost everyday
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
It was a good story and give a lesson to anyone here, I agreed on what he said that if you do not know what bitcoin is not invest in it. More prediction you give is the more you give yourself to be frustrate in the near future. And I do most of the time trade in a short terms, then I do also a long terms of trading.
this story only tell me that there are people that are very lucky and other don’t, and some people are perhaps unlucky at the beginning but then they get everything back, the karma is really a bitch with those people
Quote from: izanagi narukami on March 17, 2017, 04:02:52 PM
When someone try to invest and dare to take the risk, he’ve a chance for being success.Chance means that he can also loss it but he decide take the risk, as my people named Oscar Darmawan also dare to take the risk and now he’s rich from bitcoin
If you are able to make money with bitcoin either you have to invest when the bull run started and all those people who made a good amount of money could tell that they invested when the price was below $500 and they could yield a good amount of money when it raised over $1200 which is double their evaluation .It is a well written article and everything written in it are to the point .
Reading the article we can reach to the conclusion that Bitcoin is the currency to be invested. Use the biggest part of your money to buy Bitcoins and hold it, if you want to invest in another Crypto-Currencies use a small part of your money to do it. In the case of China, the country regulations can make the price fall or rise, that is important to observe also.
these Chinese are the people planning to bring down the value of bitcoin…….
Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom
Thanks for sharing this. Nice that he went out of his way to share his experience. Anyway he sold all his bitcoins because he don’t know it anymore? Well that hit me a bit. I’ve only been introduced to bitcoin last December and really don’t know much about all the technical stuff. All I know is that I have bitcoins, that it’s fiat value increases over time and that I can use the wallet to send and receive money. That gave me pause thinking if I should convert more fiat into bitcoin. I couldn’t care less about the ETF though what I’m worried about was these talks about this “forking”. I feel now that I haven’t even got to know it and it’s already going to change. Thanks, really. This article was timely.
I’ve been using the same method as his, hold for a long time and wait for the ripe moment to offload the coins. It’s a very common method, yes, but the returns are rather great than usual/normal if you are patient enough and you are not being afraid of losing money day by day. It is very rewarding in the long run, only if you take the risks and have big balls to not care about price drops.
Patience and Analyzing is the key to be successful in trading bitcoins and altcoins holding coins is not bad if you analyze if that coin is have a good developer or it will get pumped soon but holding maybe getting bad too if you choose a wrong coin or scam coins.
It all depends in decision making, analyzing what move to be made, joining a community for you to gain or to share knowledge. Passive investment and short term investments in cloud mining and hyip’s are bad options you’ll only get scam and lose lots of money if you invested in those platforms.You should find different methods in earning bitcoin without any investment but if you’re good in trading you could try buying and selling altcoins and make a good amount of money.
Everyone cannot be lucky enough to get the profit out of it. Only few make it as an investment holding and wait for a long time, most others have the tendency to sell during small bumps and gain the profit. Patience is the must for such a profitability.
Quote from: n0ne on March 18, 2017, 03:10:21 AM
Everyone cannot be lucky enough to get the profit out of it. Only few make it as an investment holding and wait for a long time, most others have the tendency to sell during small bumps and gain the profit. Patience is the must for such a profitability.
when you invest in an up and coming thing like bitcoin which has its price incerease in the long run then you only need to buy in the dips and forget about it. you can easily make profit, it is not rocket science to be hard.like these days that price is falling, you buy now and hold it till the end of year for example or 6 months and make the profit, easy.
Quote from: RoommateAgreement on March 18, 2017, 03:39:15 AM
Quote from: n0ne on March 18, 2017, 03:10:21 AM
Everyone cannot be lucky enough to get the profit out of it. Only few make it as an investment holding and wait for a long time, most others have the tendency to sell during small bumps and gain the profit. Patience is the must for such a profitability.
when you invest in an up and coming thing like bitcoin which has its price incerease in the long run then you only need to buy in the dips and forget about it. you can easily make profit, it is not rocket science to be hard.like these days that price is falling, you buy now and hold it till the end of year for example or 6 months and make the profit, easy.
Yup! it is not a mere luck that they are profiting like that because in a much experience user of bitcoin one can certainly profit because of the price increase alone, and just like you said the value is starting to fall right now it is really best to convert back to bitcoin and buy and stock as much when the value is low then when the value start to rise again make a move in converting again back to the fiat wallet for your safe income at hand.
Quote from: n0ne on March 18, 2017, 03:10:21 AM
Everyone cannot be lucky enough to get the profit out of it. Only few make it as an investment holding and wait for a long time, most others have the tendency to sell during small bumps and gain the profit. Patience is the must for such a profitability.
Many tried that way dude, and they gain too much profit on that way they got doubled money after few months of waiting and patience. It is a long process of waiting to gain big profit from it.
Quote from: n0ne on March 18, 2017, 03:10:21 AM
Everyone cannot be lucky enough to get the profit out of it. Only few make it as an investment holding and wait for a long time, most others have the tendency to sell during small bumps and gain the profit. Patience is the must for such a profitability.
Why not we just learn from others mistakes. I do see many early adapters were crying out for their actions of not holding bitcoins like how Mr. Namamotto is still holding his bitcoins. If you are not an active trader, it would be highly recommended to hold bitcoins for years. Because only active traders will be having more profits than long term holder as they are continuously buying and selling bitcoins they do get more profits than just holding.I have learned the trick of holding bitcoins for long period after I am watching my friends doing so. Some of my friends are you holding bitcoins from the prices of ~$30 per one bitcoin to till now.
Bitcoin = Long-term …..that is my moto… I bought a bunch of bitcoins when the price was about $400 and since then the price was very volatile,but I kept at it and I hoarded… When the price reached $1200 …. I sold a bunch of coins and I made some crazy profits. I still kept enough coinsto profit from the future, but at this stage I have tripled my initial investment…. so my current investment is now nearly risk free. This is where you want to be…
If this person only made 330% starting in 2015, they did a horrible job and DIDN’T do better than the market from that time to now. In 2015 Bitcoin hovered in the low $200s, for nearly the entire year. So presumably your friend had cost basis starting points between $200-250. 20 months later Bitcoin was in the $750-1000 range. If your friend ONLY made 330%, they sold TOO SOON!If they had held on until 2017, selling closer to $1200, they would have made about 500%!I’m happy for your friend but a 330% gains run is nothing in this world.http://www.coindesk.com/price/
Nice story, the things I learned about bitcoin holder is never put your emotions into trading. Dont panic selling while others do, buy when the price is low and sold it when its profitable already. Patience and determination to be a successful trader.
Quote from: mrcash02 on March 17, 2017, 05:17:56 PM
Reading the article we can reach to the conclusion that Bitcoin is the currency to be invested. Use the biggest part of your money to buy Bitcoins and hold it, if you want to invest in another Crypto-Currencies use a small part of your money to do it. In the case of China, the country regulations can make the price fall or rise, that is important to observe also.
I don’t think that this is the key message of the article. The ideal thing to invest in may change and Bitcoin will just be a great currency, but the article is more focused around any long term investments you may choose to make, with its focus mainly being on keeping safe by never being naive enough to think you can just instantly become successful in this, and I think that many people responding to this post are being the naive people that he considers in the article - people who think they can tell you exactly how high Bitcoin is going to go when they can’t say what it’ll be tomorrow.Nothing is 100% stable and people need to be careful.
Quote from: mace15 on March 18, 2017, 04:20:03 PM
Nice story, the things I learned about bitcoin holder is never put your emotions into trading. Dont panic selling while others do, buy when the price is low and sold it when its profitable already. Patience and determination to be a successful trader.
Yes and holding is a key to make profits in bitcoin so if you don’t want to take risk of investing it anywhere then its good not to do anything with it and simply hold it till the price goes higher which in return will give you good profits.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
He made it well for 330% return, great investment on bitcoin for long term but after ai read his statement “I stopped buying bitcoin since January 2017 because I just dont get it anymore.”Why stop? It may make sense if we look at current drop from $1246 to $980 and keep decreasing.Right time to buy and sell is a key to get profits, after some issues still not solve, this trend may cause panic sell.
Really nice story in my opinion. I think we all should think about investing in to altcoins which are not that famous right now, because small investment not that high risky as buying bitcoin at the price of 1200$ for 1 bitcoi . But i think it’s not a bad strategy also to wait for drops and buy it again when it in the price of 400$ and wait the pump again and you have no need to rush using everything you have
Quote from: duuuuude on March 18, 2017, 04:31:30 PM
Quote from: mace15 on March 18, 2017, 04:20:03 PM
Nice story, the things I learned about bitcoin holder is never put your emotions into trading. Dont panic selling while others do, buy when the price is low and sold it when its profitable already. Patience and determination to be a successful trader.
Yes and holding is a key to make profits in bitcoin so if you don’t want to take risk of investing it anywhere then its good not to do anything with it and simply hold it till the price goes higher which in return will give you good profits.
It is good to hold your bitcoins or altcoins if you have a huge amount of it but if you don’t have a huge amount of it better to invest it in the site you want and take the risk bagholders is very profitable if you have a huge amount that you holding.
Quote from: SmokerFace on March 19, 2017, 12:23:48 AM
Quote from: duuuuude on March 18, 2017, 04:31:30 PM
Quote from: mace15 on March 18, 2017, 04:20:03 PM
Nice story, the things I learned about bitcoin holder is never put your emotions into trading. Dont panic selling while others do, buy when the price is low and sold it when its profitable already. Patience and determination to be a successful trader.
Yes and holding is a key to make profits in bitcoin so if you don’t want to take risk of investing it anywhere then its good not to do anything with it and simply hold it till the price goes higher which in return will give you good profits.
It is good to hold your bitcoins or altcoins if you have a huge amount of it but if you don’t have a huge amount of it better to invest it in the site you want and take the risk bagholders is very profitable if you have a huge amount that you holding.
NO!!! stop spread the bullshit thing. In this time the price of bitcoin is dropped which means holding is not recommended act for anyone. I’ve give an advice for my friend to sell them on the high rate. And he was do the right decision and in this time he can buy cheap btc.
Quote from: buharikx31 on March 18, 2017, 05:26:40 PM
Really nice story in my opinion. I think we all should think about investing in to altcoins which are not that famous right now, because small investment not that high risky as buying bitcoin at the price of 1200$ for 1 bitcoi . But i think it’s not a bad strategy also to wait for drops and buy it again when it in the price of 400$ and wait the pump again and you have no need to rush using everything you have
Yes investing in a good altcoins like eth dash and litecoin will give you profit in future market.See what happens in bitcoin now
Quote
Stick to a long-term investing strategy.Long-term investment is indeed more promising rather than short-term, besides long-term (usually) investment has a higher profit than short-term.Quote
Only invest in what you are familiar with.The reason I chose bitcoin in 2015 was because I was so familiar with it. I had been searching everything about it from 2013 to 2015. I stopped buying bitcoin since January 2017 because I just dont get it anymore. This may sound hypocritical, but Id like to warn those newbies: do not buy bitcoin when you dont even know what bitcoin is.
This is very true, many people want to invest Bitcoin even tho they just heard about it yesterday and they don’t even want to learn it more deeply to make sure that it’s good for their money.
At first i dont know about bitcoin, i just rejected it when my friend always share this with me, but here i am now. I cant really imagine for this, well im curious about so thats why i prefer to try bitcoin. And of course i have leaned some things as a bitcoiner: - used bitcoin in good and profitable ways - make as investment - keep and hold some bitcoins (dont used all bitcoin for something) - and all for this is to trust bitcoin
lol I thought the story was all about your success and things that you have learned from investing in bitcoin well, as far as I know there are many Chinese bitcoin investors who became successful from holding their coin and what made them successful is that they have a lot of capital to start on . anyway those four things which has stated by that person seems very usual especially the “only invest in what you are familiar with” as well as the “remain clearheaded” and what has stated were right .
Quote from: SmokerFace on March 19, 2017, 12:23:48 AM
Quote from: duuuuude on March 18, 2017, 04:31:30 PM
Quote from: mace15 on March 18, 2017, 04:20:03 PM
Nice story, the things I learned about bitcoin holder is never put your emotions into trading. Dont panic selling while others do, buy when the price is low and sold it when its profitable already. Patience and determination to be a successful trader.
Yes and holding is a key to make profits in bitcoin so if you don’t want to take risk of investing it anywhere then its good not to do anything with it and simply hold it till the price goes higher which in return will give you good profits.
It is good to hold your bitcoins or altcoins if you have a huge amount of it but if you don’t have a huge amount of it better to invest it in the site you want and take the risk bagholders is very profitable if you have a huge amount that you holding.
Take your risk then. Even those bg companies that offers a certain services for you to invest and received your ROI are sometimes useless as well and can end up your money being on the run. So basically this could be the safest thing to have hold as an investment
Quote from: Kabul on March 17, 2017, 04:39:21 PM
Quote from: giveen on March 17, 2017, 03:13:15 PM
I have learned many things will holding bitcoins 1. Patience is everything, even though at some cases panic selling occurs we shouldn’t worry as it happens2. Ignore altcoins, as we currently see altcoins are creating chaos and many people are telling bitcoin is over ignore them just stick with bitcoin. 3. Stay away from gambling and there bankroll.
altcoin is the best field and you can easily double your bitcoin thanks to them. To traders, altcoin is one of the tools which help them to earn success in life and make income almost everyday
I agree, altcoins are just substitute for the bitcoin, since the bitcoin mining became harder and not profitable, miners prefer altcoins. Also altcoins have become the most exciting markets for traders today, they are volatile, fast, paced markets in which a lot of money can be made in a short space of time, however this is a high risky activity to get involved in, but also it has a lot of potential.But I am still say I am a proud bitcoin HODLER, altcoins are seasonal, come and go in same pace and manner. But bitcoin is for living.
In this article, it says “If there is one among those stars that could guides you through the dark unknown, thats yourself!”Actually it is a poetry from Stray Bird by Rabindranath Tagore. It just feels so right to put it here. We must stick to our own judgement, not those so-called experts.
Quote from: Cindy23 on Today at 08:09:49 AM
Quote from: jossiel on March 17, 2017, 10:21:27 AM
A great article though and what a very inspiring story from wansfang. Chinese surely is good when it comes to money matter.And I guess I’m on the right track upon reading the first thing that he did that sticking on the long term investment.That’s why I’ll keep my bitcoin for the long term investment.
are u sure u will hold ur coins for long now? how come all friends around me are buying altcoins, especially Dash.
There are a 50% chance that you can earn and gain from Altcoins even if sometimes it is risky indeed but there are altcoins that are very trustworthy, just like the Dashcoin they say it is a automatically mutating anonymous cryptocurrency that are created with CryptoNote technology Well they are say that their network code is always up to date with minimal developer cost and close to 0% errors. users no longer depending on developers or they Concentrate less on developers and more on your trades and other projects. well try it if you want, but ask first your friends if they want to teach you about this.
Quote from: talkbitcoin on Today at 09:02:38 AM
Quote from: YuginKadoya on Today at 08:48:17 AM
Quote from: Cindy23 on Today at 08:09:49 AM
Quote from: jossiel on March 17, 2017, 10:21:27 AM
A great article though and what a very inspiring story from wansfang. Chinese surely is good when it comes to money matter.And I guess I’m on the right track upon reading the first thing that he did that sticking on the long term investment.That’s why I’ll keep my bitcoin for the long term investment.
are u sure u will hold ur coins for long now? how come all friends around me are buying altcoins, especially Dash.
There are a 50% chance that you can earn and gain from Altcoins even if sometimes it is risky indeed but there are altcoins that are very trustworthy, just like the Dashcoin they say it is a automatically mutating anonymous cryptocurrency that are created with CryptoNote technology Well they are say that their network code is always up to date with minimal developer cost and close to 0% errors. users no longer depending on developers or they Concentrate less on developers and more on your trades and other projects. well try it if you want, but ask first your friends if they want to teach you about this.
how did you come up with that number, it is not a coin flip to have 50-50 chance of heads or tails. it depends on a lot of factors. such as what coin you get in or how much experience you have in trading.and about your remark about dash i have to say never believe what you read on the forum. people are always full of it. i am not saying it is right or wrong but unless you check it yourself and use it and get a feeling of whether it is true or not, do not believe it.
Well I don’t have much experience when it comes to Altcoins and as a trader my trading skills are not that high, well I think I failed in my intuitions too, I have tried Litecoin I just tried it a little then stop because I can not check on it more often, then came up with Coinye and that was the very unlucky move that I ever do, well if you know what happens to coinye that is, and came up with the conclusion on dash because I have recently started trading with it because of the full support of some friends but if I am unsuccessful with this maybe I will cut of my ties with other coins and focus more on bitcoin.
Quote from: Cindy23 on March 17, 2017, 10:06:51 AM
Have you ever thought of why some people succeed in investing bitcoin while others lose? a chinese bitcoin holder shared his story about 4 things he learned from his successful investment in bitcoin. Actually, he started with Litecoin, but lost everything. He began investing in bitcoin in 2015 and won a return of 330% in 20 months. Read more about the story. http://news.8btc.com/4-things-i-learned-as-a-bitcoin-holder
Well id depends. All of us has a different method in earning. If thats his/her method, and he/she is earning profit, thats good. Most of us here is earning using different method, but the difference is that, the rate or the ROI. But as long as you earn profit, then no need to worry about..
Quote from: jossiel on March 17, 2017, 10:21:27 AM
A great article though and what a very inspiring story from wansfang. Chinese surely is good when it comes to money matter.And I guess I’m on the right track upon reading the first thing that he did that sticking on the long term investment.That’s why I’ll keep my bitcoin for the long term investment.
are u sure u will hold ur coins for long now? how come all friends around me are buying altcoins, especially Dash.
Quote from: YuginKadoya on Today at 08:48:17 AM
Quote from: Cindy23 on Today at 08:09:49 AM
Quote from: jossiel on March 17, 2017, 10:21:27 AM
A great article though and what a very inspiring story from wansfang. Chinese surely is good when it comes to money matter.And I guess I’m on the right track upon reading the first thing that he did that sticking on the long term investment.That’s why I’ll keep my bitcoin for the long term investment.
are u sure u will hold ur coins for long now? how come all friends around me are buying altcoins, especially Dash.
There are a 50% chance that you can earn and gain from Altcoins even if sometimes it is risky indeed but there are altcoins that are very trustworthy, just like the Dashcoin they say it is a automatically mutating anonymous cryptocurrency that are created with CryptoNote technology Well they are say that their network code is always up to date with minimal developer cost and close to 0% errors. users no longer depending on developers or they Concentrate less on developers and more on your trades and other projects. well try it if you want, but ask first your friends if they want to teach you about this.
how did you come up with that number, it is not a coin flip to have 50-50 chance of heads or tails. it depends on a lot of factors. such as what coin you get in or how much experience you have in trading.and about your remark about dash i have to say never believe what you read on the forum. people are always full of it. i am not saying it is right or wrong but unless you check it yourself and use it and get a feeling of whether it is true or not, do not believe it.
Use for investment , keep your Bitcoin wallet save, shop with it online and trade
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