I made money with Bitcoin but i dont like it

How is it possible that I’ve made 190% on an investment that I don’t like and don’t believe in, Well today I’m going to break that down?

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1. I learned very early on that just because your investment went up or down doesn’t mean you are right
– This investment type is easy to spot and understand ( it’s the I’m buying because the price is up and I think the other guy will pay more for it, so the price will continue to go up)
– But that only works until it stops working, even good large business, slow down with growth, and the larger they get
– However, most people that are very bullish on bitcoin think that the price will keep going up into the 250k ( and when you ask why, the answer is because it’s the future )

But the truth is:
– IBM was the future at one point ( not today )
– Remember Nokia and JC.Penny
– Although completely different examples, the point is, that even big brands can go bankrupt

But before I give you my advice: here is the experiment and the results

2. The experiment that I made and the results
– The best way to stay interested in something is to put some money into it
– That way you can always keep track of it
– That’s why I invested $500 into bitcoin more than a year ago, and promise not to sell it for a long time ( whether its up or down)

Results:
– That test, experiment, or irresponsible gamble at best has turned into 190% gain
– Does that mean I’m wrong or that I’m right
– Well let’s run the numbers

Here is how I know I’m right:
– I buy a good company with a good product, good brand, good management, and good constant earning and growth potential
– If I my investments go up, and the story has remained the same, then I know exactly why I’m making money
– Because I invested in a solid business

However with Bitcoin:
– What drives prices up are events and people perceptions, 2020 was obviously a crazy year, those more people became bullish on it
– But nothing change really, so again it’s just going up by human anticipation
– And that more people are buying so they drive the price up to and up

But human nature is curious:
– So even if you know the risk you will most likely want to participate
– Because FOMO, fear of missing out

3. My advice: understand what you are investing into (it’s not an income-producing asset in any way ) – like warren use to say, you can sit there and fondle gold but it doesn’t do anything

– By nature investors are cheating gamblers that like to become the house and always have odds in their favor to limit the risk
– So if you want to play this game, grab maybe 1-10% of your net worth and do it
– But understand that you can potentially lose everything dollar you invested it

4. With 2021 just started
– My plan remains the same, keep investing in index funds and buy good company and deals when you find them
– Investing is long term game, and very few get rich quick, but even fewer keep that money

I had a friend I meant:
– That created a coin also
– Made over 250-500k in a short period of time
– And today has a nice car and nice stuff but is currently looking for a job.
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