It is an addiction. You are also losing which is another sign that it is an addiction. If you have stopped this habit, it will be good. If you do not stop, it may later has side effect on your health and which you will not like. I have this habit before but I have also stopped since few years ago. If you do not have time to gamble, do not gamble. If you want to gamble, gamble with little amount of money.

Exactly!!! Investing into shitcoins - and/or trying to trade for the purpose of generating capital in order to invest (or accumulate) bitcoin is such a slippery slope that we can question the extent to which those kinds of folks are delusional in terms of their supposed abilities to actually make progress in stacking sats rather than ongoingly putting their capital at risk which sooner or later is likely to bite them in the ass, especially if they attribute skill to luck and don't really know how to employ sound practices to ensure that they are sufficiently/adequately hedging their bets, which is not easy to accomplish even for folks who spend a lot of time developing various kinds of trading skills/practices.

It seems that the more poor you are (and the fewer the investments that you have), the more important it is to both establish an emergency fund and also to maintain that emergency fund in cash rather than in any other assets.. especially the first at least 3 months of your living expenses.  The thing with richer folks is that they may well have several options, and sure there are a certain amount of rich folks who are not very liquid (meaning that they are not keeping very much of their wealth in cash), but richer folks are still more likely to have options between which asset to sell, so in that regard, they can choose what they believe to be the asset that they value the least, but they also might get stuck with having to sell an asset that is the most liquid to deal with their emergency.. [b]and so I am not going to presume that rich people don't end up fucking up BIG time, but they do tend to have more resources available[/b], and so a person who is not as rich will tend to have to be way more careful not to end up either recking himself or overly ending up; having to dip into their investment because of their failures to properly have enough reserves, and a lot of poor people never end up making hardly any progress in their getting themselves out of holes because they either fail to keep enough emergency funds and reserves (because they are getting too greedy trying to make sure all their capital is "working," and another major kind of mistake that they make will be to either not let their winners ride or to be dipping into their investment way too soon and not letting their investments compound... and surely either of those kinds of BIG mistakes can be made better through better use of emergency funds, and also maintaining and managing reserves and cashfloats.

Sometimes we might get too greedy because we want all of our money to be working, and in something like bitcoin, it may well not be really very necessary - even though of course, there are no guarantees - but the essence is to want to stay invested, and if you end up getting very great returns on your bitcoin, then it might not matter  that you had 3 months to 9 months of your expenses continually available in cash and not working for you for 15-20 years or more.

There is something that is empowering about having the extra cash just being available, even though it is likely not only failing to earn interest but it is also likely half of its earlier value after 6-10 years.. and maybe also you are constantly having to add to your emergency fund because the first 5 years, you had kept $1k per month (so between $3k to $6k in your various emergency funds, reserves and float), but the next 5 years, you were no longer feeling comfortable with that amount, so you started to feel that you had to put $2k per month.. so $6k to $12k in the second 5 years.

There is nothing really wrong with those kinds of conclusions - except for a realization that emergency funds tend to be denominated in the fiat in which bills are paid because assets can suffer liquidity events at the same time, then you are fucked  because everything might be going down in value at the same time, and you are forced to sell some things because you did not have enough cash.  Think about what happened March 2020 as an extreme example, but it is still an example of something that could happen and you would not want to be caught on the wrong side in which you had to sell either your assets and/or your bitcoin at a time that they had just taken around a 50% or more draw down in a day and with no clarity in sight when they were going to stop going down.....

so sometimes if you are going to end up wanting to be cute in regards to making sure that your various kinds of emergency funds, reserves and/or float is working for you while in storage for a long time, is that you would still have the first 3 months or so in cash or cash equivalents that are easy to draw upon, maybe in a combination of physical, in banks, in other kinds of accounts that may or may not be interest bearing.

When shit hits the fan, you have to largely be prepared already in advance to be able to weather through the situation... maybe the bad situation only lasts a month or two, or maybe it ends up lasting several months, even 6 months or more, and so there might be some point in which you are also looking at your bitcoin as one of your forms of liquidity that you need something and you are running out of resources, and surely there could be cases in which you are in that situation, and maybe there could have had been ways that you could have better protected yourself.

Maybe I can give my own example?

Through 2017 and early 2018, I had been planning for some construction that I knew was going to cost a certain amount that was probably equal to 3-5% of the value of my then BTC stash, and so I had set aside about half of the expenses that I had calculated were boint to come due in January, February, March and April 2019.

As we likely realize throughout 2018, BTC spot prices went down from around $19,666 and down to a low of around $3,124, so throughout 2018, I was buying BTC on the way down with my designated cash and keeping in mind my construction cost bills were coming due in early 2019 - yet what ended up happening is there were higher costs than expected and the bills started coming due in October, November and December 2018, so really a few months earlier than expected.. and .. so there was some point around November 2018, that I was getting close to running out of cash from all of my various sources, and I ended up selling around 3.5% of my then BTC holdings (at various prices in the $3,800 to $4,200 range), and maybe over the next several  months I ended up buying back around 50% of what I had sold, yet the overall lesson was that I had made a mistake in properly planning and maintaining enough funds to both cover all of the extra expenses but also to sufficiently prepare for the level of the BTC price drop that ended up playing, which largely likely meant that I was buying back way too much BTC on the way down from $19,666 to $3,124 and I should have had held more of those cash reserves (that were dedicated towards buying bitcoin) in my cash reserves that should have had been dedicated for paying for my construction expense.

So, the punchline is that due to my errors, my lack of properly keeping enough cash on hand, there remains a certain quantity of my BTC that I ended up selling in the price range between $3,800 to $4,200 that I was not able to buy back.. which probably was around 1-2% of my then BTC stash that was not able to be bought back.. .. except, I suppose later that I probably ended up buying some of that back at higher prices.. but even that is not really clear in terms of whether my BTC stash might have had ended up being forever reduced by 1-2% because of the price point in which they were sold and the fact that BTC prices were near bottom prices.. so ultimately it was a mistake of selling low rather than selling high.. and then never being able buy back at lower than the sell point (except for my mentioning that about half of it did seem to have had been bought back, so instead of shaving off 3-4% of my BTC stash the end result was only 1-2% of my BTC stash having had been shaved off.

But I already mentioned the idea that the cash in your emergency fund.. perhaps up to 3 months expenses is likely going to suffer from not earning any interest or growing but instead ongoingly shrinking in value, which means that more and more funds will likely have to be added to the emergency funds and if you are lucky (and you don't have any emergency), then you may well end up ongoingly maintaining an emergency fund for 20-30 years or longer that continues to get larger and larger in terms of its nominal dollar value, but none of that money (up to around 3 months of your expenses) is earning any income nor interest, just continuing to debase in its value.. but it is a cost of staying safe and hoping that you actually never have to use it.. but it is also likely keeping your rich too. .because you would also never have to touch your BTC investment (or any of your other investments) at a time that is not completely of your own choosing.

Let's say that you spend 20 years investing into something like BTC at 15% per year, so after 6.67 years, you have invested a year's of your income, and so after 20 years you have invested around 3x of your yearly income, but at the same time you have continued to maintain at least 3 months of an emergency fund and sometimes you would have an extra 6-18 months of reserves and float, and so much of that cash was not really working through the last 20 years, but hopefully your bitcoin was working during that time and sufficiently made up for the fact that your various forms of cash were not working.. and you can do these kinds of calculations to figure out whether it was worth it to maintain these various systems including calculating if it would have had been better to use your BTC and/or your other investments as your emergency fund, which surely is a kind of sloppy behavior that we see people do and we see normies get reckt as fuck too and they end up having fun staying poor because they never get ahead and they are always gambling with their money.. so by the time they maybe could have had been to fuck you status, instead they are having to work until they die and they also might not even be able to increase their standard of living because they failed/refused to properly invest and/or to properly protect their investments.

once you have 3 months of cash, you could potentially have some things that are cash equivalents that might take a month or two to cash in, but they hold their value.  When you start to try to keep your emergency fund in too many other kinds of assets, then you surely run the risk of them all being volatile in the same direction, which is opposite of the dollar (or whatever fiat you use), of course, the richer you become, the less you have to worry about these matters because you likely have all kinds of various assets to draw from and you might not be as concerned if some of them are down or up when it comes time for you to use any of them, and you may also be so much in profits that any emergency might only be 1-2% of your total wealth, versus a more poor person who might get completely wiped out from any small emergency.. especially if he does not set asides funds and cushions to protect himself. .and it can take time to both build up those kinds of protection systems and also get into the practice of using them in such a way that you don't get your own false sense of security because you end up depleting them or using them and then when the real emergency comes, you are fucked because you did not maintain your emergency funds, your reserves and/or your cash float properly..

No one is going to hold your hand either, so if you fuck up, it is completely on you to figure out what kind of balances to make to make sure that you are investing aggressively enough while at the same time, making sure that you maintain sound financial practices in the direction of how you maintain your emergency fund, reserves and float.

Many times emergency funds are form of cash that are very liquid but they may well not be earning any interest or gaining value, so there could be some sense that those funds are neither working for you and that they might be losing  value as fast as you can build them up, so in that sense, you might have quite a bit of hesitancy in holding very much value in cash and/or cash equivalents,

Buying bitcoins little by little and withdrawing them to a personal wallet is the most effective way. I've been doing it for a few months and now I think I'm pretty successful even though I only have a few bitcoins at the moment. But I hesitate to buy again when the price of bitcoin becomes too expensive. Do you have an opinion? Unfortunately I just found out about this forum, if I knew about it a long time ago maybe I would have more bitcoins. Even though I've known about bitcoin for a long time, I was hesitant to start buying bitcoin for a long time before finally deciding to start buying it on binance

In the end, we likely can realize that not enough people know or understand bitcoin, otherwise more people would own bitcoin.. so yeah.,. too bad that we are still in the ballpark of 1%-ish adoption.. .so people don't even realize that it is to their best interest to learn about bitcoin and get some.. and so any of us who are already in such process, we are likely 10-15 years ahead of the masses coming into bitcoin - even though there are surely some rich people who are coming into bitcoin and hoarding all the coins, but you cannot stop people from coming in and front loading their investment into BTC, just like you cannot force normies to learn about bitcoin and to get the fuck started out of their own best interest (that they don't realize), and so each person has to come to bitcoin at his/her own pace and when s/he finally figures out that it is in his/her best interest to get some.

There are shitcoiners with legitimate confusion, and they might think that they already know about bitcoin or they know enough about bitcoin.. so frequently a person will not know what they don't know, so even smart people can get sucked into various shitcoin talking points without actually realizing that they have little to no clue in regards to what bitcoin is.

Another thing is that there likely are a lot of people who have heard of the word bitcoin, and they might think that they have some kind of a decent idea what it is, yet merely hearing the word and sometimes hearing some mainstream rendition of what it is, is not enough to actually realize actually what bitcoin is.. and so actually understanding ideas of sound money might be a bit more foreign to people than we presume such a topic as "common sense" when there are a lot of ways that people can get sucked into believing they know more than they do, and it may well be a good idea for some of them to actually spend a bit of time really studying bitcoin specifically.. whether it takes 10, 50, 100, 500 or 1,000 hours of study may well vary from person to person and the kind of source materials they are studying.

Some folks have a lot of difficulties distinguishing between good information and bad information, and they might actually believe the sources of their bad information and believe that their bad information is good information, and so when they actually come across some accurate and informative information about bitcoin, they might skeptically conclude that the good information could not be true since it conflicts with what they believe to be credible sources.

the problem is that the misconception about Bitcoin and cryptocurrency has made so many naive folks to invest into any cryptocurrency thinking that it has the potential of of increasing in similar proportion with bitcoin and although some project might have had a positive trend  afterwards it's always meters down the road which should have thought those folks great lesson that Bitcoin stands as an exception to whatever crypto project that comes up. Imagine he invested such amount into Bitcoin? Do you know how strong his portfolio would have been? Even when some folks think that after stacking up a good amount of Bitcoin and have probably made a good amount of profit that it's now time to sell some and diversify it into other areas and then you're considering investing your profit into an altcoin or a meme project? One of the things we need to learn in our quest to multiplying our income is that the source that gives you those profit you're considering using to invest into another project remains your most reliable source you shouldn't play with for any reason. Well, these are all stories that don't count at the moment and I just hope he has learned the right lesson by now.

This is something serious, from a $10k purchase of that shitcoin to $129, I strongly believe it is a memecoin, just what they are known for. I am still on the thought as of why people will prefer embarking on investment like this, I see people here who call it greed, seems like I have no other choice than to accept as fact. Excessive haunt for profit has ruined many investors and investment, these investors are completely aware about the effect and repercussions of dealing with massive funding into shitcoins if it goes the wrong way, at which it is clear that these shitcoins are 99% expected to dump than pump. It is now a matter of had I know, he should have insisted on investing in Bitcoin but his pursuit for bigger profits has landed him in a doom.

IMO this is a clear reason why anyone who wants to accumulate bitcoin for long term should stay away from any scheme that has something to do with selling and if you look at the risk involved and we were to give a possibility of the outcome that buying back would be possible then we could  be stuck there because there are too many uncertainties involved and no-one can really tell if that risk even has a 0% possibility of happening( my reason beign that just as you said they forget that bitcoin is still an early asset and has more possibility of going even higher and never returning to old prices and even so bitcoinis a very unpredictable asset), then at this point it is more like a gamble and why would anyone who really has good plans to buy more bitcoin consider this as part of his strategy.

Besides if you really wanted to accumulate more bitcoin then you should be more concerned with looking for means to increase our finances to be able able to buy more bitcoin( this could include having multiple income streams or finding ways to move some value we have in other asset to bitcoin just like the last example you gave where the guy has a non taxable event and is able to move up to 12k into bitcoin) which clearly has less risk(would possible pay out better)involved in it than selling to buy back unless anyone who wants to do this would be ready to accept the reality that he bitcoin price might never come back low again and he can end up buying back at an even higher rate than he sold, so this should be one of the senerios in his possible outcome and then if he still wants to proceed with the gamble, it's clearly his choice.

Yep.. the BIG opportunity seems to presume better places to put money than bitcoin and/or to use bitcoin profits for such purposes, rather than perhaps getting the money for "Big Opportunities" from other places.

Of course, when guys are young, they are likely going to come across opportunities and also sometimes need capital to get into certain kinds of deals/arrangements... but that still might not mean it would be a good idea to use bitcoin proceeds for these kinds of matters, yet at the same time, everyone is going to have to make these kinds of choices for themselves in terms  of both balancing their finances and balancing where they have allocated their investments, whether it is time, energies and/or monetary value.

Yeah, some members might have more financial abilities than the hypothetical guys and other members might have to divide the number by 10 in order for the hypothetical to be realistic or to make sense in comparison to their own circumstances.

Is quite a strategy you have there but don't you think that holding for 2032 seem a little too short because normally holding should be from ten years and above and also one thing we most also understand is that even if you decide to hold for 20 years but doesn't have a good amount of Bitcoin on your portfolio you could end up waiting for the 20 years without any good returns, actually the reason why I brought this issue is that so many people have different mindset and perspective about Bitcoin investment especially the new ones because I over heard a begginner planning to invest a certain small amount of money into Bitcoin with the believe of having a huge return in the future without knowing he could wait for that long without getting a tangible profits at the end.

So actually the only way someone could expect a good return from Bitcoin in the future is that after you have drawn your plan for ten or more years holding you should continue your regular accumulation of Bitcoin, however let's say your targets is achieving $24k in ten years, if your cash flow is enough you could strategize your accumulation in $50 weekly and within ten years you could be surprised to see how far you have gone.

There surely are balances that need to be struck, and sometimes it can be quite difficult to even invest more than 10% of your income, so each of us has to figure out how much we are able to do, that might also involve tradeoffs that we make in terms of gaining job skills and/or experiences that might contribute to our abilities to earn more later down the road...so yeah, it seems that you overall understood these comparative matters, even though you seemed to be fighting with the hypothetical in several areas, too.

This is a good point.

A person might want to be as aggressive as he can be within his own means to acquire as many bitcoin as he is able to do, and there is nothing wrong with that as long as he does not cause something like the wealth (or the earlier BTC adoption) of someone else to cloud his own visions regarding some of his own limits.

There is no problem with some healthy levels of competition, since it is quite likely that many of us engage in a certain level of competition, yet there are also some needs for measuring our own levels of aggressiveness in reasonable kinds of ways in order that we do not end up overdoing it or even contributing to our own levels of becoming too emotional in the ways that we are investing and/or protecting ourselves..  

Let's say for example, there are two guys of very similar economic status and maybe in their early 30s, and maybe they earn around $40k per year and they are able to save and/or invest around $4k (10%) to $10k (25%) per year - depending on how aggressive they are or how much they had been building up their investment portfolios.. so if each of them had been investing and/saving for 10 years, there could be quite a bit of variance in both the size of their investment portfolio and also what is contained in their investment portfolio, and after 10 years investing,

Guy1-  Earlier bitcoin investor with 10% investment -  might have around $40k invested - but he discovered bitcoin 7 years ago.. so he has around $22k invested into traditional investments  like stocks ($8k in his first 2 years and then $14k in his last 7 years).. and around $18k invested into bitcoin at $50 per week that resulted in about 2 BTC.  If we assume around a 50% increase in the value of his traditional investment, his total investment portfolio is worth about $161k ($21k stocks + $140k BTC)

Guy2- Later Bitcoin investor with 25% invested -  might have $100k invested but only invested into traditional investments of stocks, and just discovered BTC... so the total value of his investment portfolio might be around $150k.. so this guy surely could catch up to the earlier guy by starting to invest aggressively into bitcoin at around $200 per week (or even lump sump moving some of his earlier investment into BTC), yet it does not seem as practical to lump sum invest with all of it, so he has to find some  kind of a balance and then start to pursue bitcoin with $200 per week and he will likely end up passing up the guy who is ONLY investing 10% of his income.. and perhaps only 5% into bitcoin.

On the other hand, if there were a third guy (guy3) with the same demographics as the other two and a 15% per year investment of his salary which would be $6k per year and a total of $60k invested over 10 years -  but who had taken both a more aggressive bitcoin stance and a more aggressive overall investment stance than the 10% guy but not as aggressive as the 25% guy, yet who had also discovered bitcoin around 7 years ago and who had been investing into bitcoin for the last 7 years at $100 per week, and who continues to invest at $100 per week.. so his total portfolio has $23,500 invested into stocks and then $36,500 invested into bitcoin with 4 BTC accumulated  So his total portfolio would be $315k ($35k stocks and $280k BTC)

The second guy who is investing 25% per year for the past 10 years is the most aggressive of the three investors, yet his total portfolio has performed the worst over the past 10 years, and since in this scenario, he had just discovered bitcoin, he surely could catch up and pass the first guy in a fairly short period of time, yet if those two guys were to maintain their same pace, it could take him 15-20 years to catch up to the third guy since the third guys in not overly aggressive, but he is maintaining a pretty good pace of $100 per week, and he might never catch up to the third guy unless he increases his income and/or cuts his expensive, but he might not have as much room to work with since he is already aggressively investing 25% of his income at $200 per week-ish, so it is not always easy to either increase your income or decrease your expenses in order to be able to invest more, so in some sense, the second guy just has to continue to invest at his own pace and there may be some points in which he ends up catching up to the third guy. but surely no guarantees and probably no reason to really overly stress out about.

maybe you should understand that Bitcoin was not created initially as an asset for investment or profit making purpose but was rather created  to allow a peer to peer electronic cash system, the intention was to create a currency that would allow people to transact directly without the need for banks or governments regulations but along the line, considering the volatile nature of Bitcoin we now understand that by buying and holding on to our Bitcoin, we can actually have profits and good returns in the long run which makes it an investible asset.

I understand that as long as we are considering buying Bitcoin for the sake of the profit we intend getting out of it, long term holding is always going to be preferable to any other options like short term investment but let's get the fact right that Bitcoin was not invented for only the long term bases. There are people that don't buy Bitcoin because they necessarily want to make any huge profit out of thier holdings, for some, it might just be a perfect option to save their fiat such that inflation doesn't affect it and even though they are able to leave it for a year or two, it might work well for them. But for us here that are interested in making good profit out of our investment, there is no two ways about it and I totally agree with you that long term investment is the best way to go if we want yo make profit out of it.

You don't only buy on weekly basis and there are
major factors to be considered in selecting the intervals of your dca which includes the following.

1. Your investment goals as regards to time horizons

2. Your financial situation

3.  Market trends.

You can click here for more details https://kriptomat.io/finance-investing/how-to-choose-the-right-interval-for-your-dca-strategy/#:~:text=Investment%20goals%3A%20Your%20time%20horizon,advantage%20of%20quicker%20market%20movements.

Yes you are right that is such a pyramid post it should be more concisely arranged such that it can become more appealing in the eyes of any readers with notable heading and subheadings, and a brief summary of the whole context in a more presentable manner. Yes I tried reading but a few of it.

and during periods that you feel that you have more than enough BTC, then you can start to be more strategic in terms of waiting with some of your buys, but if you wait too much, then you might end up screwing things up and holding too much dollars when the BTC price is shooting up.

In the last 6-9 months, we had a lot of folks waiting for lower BTC prices, and they kind of got fucked and they might have been better just to keep buying as their paycheck comes in... or however they are authorizing their BTC purchases.