Buy the DIP, and HODL!

[SmartGold01]

there could be some regrets about not having had invested more, but the balance likely also does have to do with being able to stick with the investment. 

Snip

If we invest excessively, our portfolio increases but spending every month will be burdened because a lot of money goes out to bitcoin while other needs are cut because we want to increase investment every week or month, of course this will be heavy and unbalanced people will definitely find it difficult to do this.

One of them must balance between the two for bitcoin spending for 1 month - one month's expenses then the more increased then it is needed for the budget, there is also a desire for higher income it must find another source of income because if you only rely on a monthly salary it is clear that it will not be enough, and one other source will ease your burden for expenses every month while investment will continue.

That is it, having additional source of income makes one remain balance in terms of expenses or over expenditure within the period of investment, when having multiple stream of income it reduces tension and the fear to temper their investment without getting to the stage of maturity.
People fails to understand the fact that before they go into whatever investment or even savings they should have another means that would also increase their chances of not touching their money, just like bitcoin at this point when we are experiencing a bull trend isn't something one should temper due to lack and want it reduces profits .

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[rachael9385]

There are a few things that I want to correct in this case because however when talking about bitcoin then right now there is no wrong time to buy when we have found what methods or strategies are suitable to do. Many feel that the price is always a benchmark in buying but when we have determined the strategy that is done especially for almost everyone who is here who says DCA actually the price is not always a benchmark because in the end we have to realize that thinking further about the price when we do DCA is just a waste of time because in the end we know that regardless of the price that is going up or down when DCA is done things like that are not the main reference because the point is in DCA not in the price.
In addition, having 1 bitcoin or more is indeed very good but that does not mean we have to have 1 bitcoin as our benchmark as an investor because that kind of thinking makes us too focused on one thing but not thinking about other conditions.
We just have to focus on doing what we can do, no need to peg that we have to collect 1 bitcoin or more as a condition that we are an investor because we are not here to burden ourselves.
Exactly, I totally agree with this. If we do things the right way, it will help us achieve more and quickly. Choosing the right method to use and keeping to the plan is a wise one.

I really think that most investors don't put in mind achieving a specific number or amount of Bitcoin that they want, but they always click on the buy button every week and still stick to a particular strategy that they use when accumulating bitcoin. However, I believe that it is not a good idea. One side still looks at another had it quite good because it is just like if they are just saving their funds but not investing, so by the time they think to check their BTC after maybe 10 to 15 years they might have what's more than 1 BTC.

Sometimes the economy might affect an investor and the best thing to do is just to reduce the expenses and continue the accumulation process.
It seems to me that there is nothing wrong with having goals, and maybe considering how realistic the goals are and/or what is the reason for something like a 1 BTC goal.. it is a bit of a unit bias kind of a setting, and like I mentioned earlier, if someone were either brand new to bitcoin or just recently beginning to accumulate bitcoin, then having a goal to get to one bitcoin in 10 years, would likely require around $200 per week invested into bitcoin... for those persons who do not have the cash to front load their investment into bitcoin.

So if we attempt to be realistic with our goals, then we may welll also like to have short and medium term goals too that might involve what are we attempting to achieve this year and maybe what are we attempting to achieve in the next 5 years... so in the end we could have several different kinds of short and medium term goals that could be working towards the achievement of the longer term goal that might seem quite far off.. something like 10 years or even having goals of 20 to 30 years is also not unrealistic, even though they might have a lot of complicated steps along the way that might end up causing them to need to be adjusted later down the road if it might appear that we are not on the right track.

Indeed, there is nothing wrong and I also said in my previous writing that it is a good thing but if in the end we are only busy with the goal of reaching the target of 1 bitcoin but without thinking about other conditions it is not something good of course so instead of pegging ourselves to have 1 bitcoin in the investment made it would be better to focus on the strategy we do when buying because in the end whether it ends up at 1 btc or even less than that we have still tried our best so that no regrets will occur. Having a benchmark that we must have at least 1 btc or more in the investment made will actually make us feel burdened by the amount we have to pursue (lack of the amount of btc to collect) rather than being like that it is better to minimize all possibilities by focusing on collecting btc consistently without thinking about how many btc we collect for the ultimate goal.

If someone has a target and works towards it, then it is a good thing because it is not only the person that created the opportunity that will benefit from it, but others will also benefit from it too. Still on, still, if someone has a target or a goal to achieve but hasn't worked hard to get it, then that goal or target is nothing but awaste.
It is good to make a goal and also create an opportunity to crab it because it will help one to reach his or her success within a short period, what I am trying to say is that, nobody with a goal or target that works hard to achieve the goal that does not end up well, (like being successful), so if an investor decides to make a target or a goal to achieve 1 Bitcoin and stick to the plans of buying $250 or $300 weekly it will help the investor to achieve 1 Bitcoin quicker than an investor that buys $50 BTC a week and sometimes doesn't buy at all (hope you are getting my points?), if we focus on the strategy we use to accumulate Bitcoin it will help us more especially if we focus only in the DCA strategy.

Let's get back to the 1 bitcoin in 10 years goal, and even if a person realizes that there likely needs to be around $200 per week invested into bitcoin in order to make such goal realistic, such person could still maintain such goal for a while even if the first year, s/he had only been able to invest $20 per week, but there may be some visions regarding how the income might be able to be raised and/or how the expenses might be able to be cut in order to bring the weekly amount up to $200 per week.  At the same time, if after about 5 years, the average bought per week had only been around $100 per week, then there would be a lot of short fall, and maybe even a need to get the weekly amount up to $400 to $800 in order to be able to still be able to reach the 1 BTC in 10 years goal, and maybe by the time we start to get to 7 or 8 years, there could be some acknowledgement that it might end up taking somewhere between 12 years and 15 years to reach such 1 BTC goal.. so there could be a lot of ways that the aspirational goals end up playing out in terms of perhaps being a bit high.. or even in some other cases, the goal ends up getting reached much sooner than seemed possible, and so adjustments could be made in regards to reaching the goal sooner than expected, and maybe even considering that some of the goals that were created were NOT hard (and/or high) enough.

Now this is the situation that I mean when someone has a target to have 1 bitcoin for example within a certain period of time then it must definitely think about how much budget we have to travel to get to 1 btc within that period of time. If we use the example of $200 in a week then indeed we must be prepared with that nominal regardless of the economy we have while to invest $200 in a week consistently not everyone can which is precisely this will be an obstacle so instead of like that, it is better to focus on the investments that we can and do so as not to hamper our other needs for life as for the amount of btc collected (although not 1 btc) it will not be a problem because we will still be investors and get benefits if we do it the right way.

Exactly, I totally agree with this. If we do things the right way, it will help us achieve more and quickly. Choosing the right method to use and keeping to the plan is a wise one.
I really think that most investors don't put in mind achieving a specific number or amount of Bitcoin that they want, but they always click on the buy button every week and still stick to a particular strategy that they use when accumulating bitcoin. However, I believe that it is not a good idea. One side still looks at another had it quite good because it is just like if they are just saving their funds but not investing, so by the time they think to check their BTC after maybe 10 to 15 years they might have what's more than 1 BTC.
Sometimes the economy might affect an investor and the best thing to do is just to reduce the expenses and continue the accumulation process.

[Roseline492]

If we invest excessively, our portfolio increases but spending every month will be burdened because a lot of money goes out to bitcoin while other needs are cut because we want to increase investment every week or month, of course this will be heavy and unbalanced people will definitely find it difficult to do this.

In as much as is good trying to accumulate a huge amount of Bitcoin as soon as possible shouldn't make us to invest excessively because at first you will be enjoying and feeling very excited with how much Bitcoin you have accumulated but however when other physical needs will arise that's when you will realize the need to have a reserve funds.

Because one of the things I understand why most people invest on Bitcoin excessively is because of the fear of losing out, because whenever they see a very good buying opportunity presented by Bitcoin price they tends to invest all they have with the hope of managing to take care of there needs from other source while all there money are being invested on Bitcoin without knowing that if the other source could not satisfy there physical needs it could lead to a serious panic that would warrant them to sell some amounts of there Bitcoin.

[Falconer]

-snip-

In as much as is good trying to accumulate a huge amount of Bitcoin as soon as possible shouldn't make us to invest excessively because at first you will be enjoying and feeling very excited with how much Bitcoin you have accumulated but however when other physical needs will arise that's when you will realize the need to have a reserve funds.

The best investors are those who have reserve funds for other needs, regardless of whether they are funds for urgent needs or funds that they will use for daily needs as long as their investment return target has not been realized. Good planning certainly requires you to have reserve funds, but I will not teach fish to swim because some of us here already quite understand how to do that.

Without reserve funds, you are more likely to ruin your long-term investment plans instead of getting worth it returns. Many people have experienced this, it has harmed them and of course this can be a lesson for others.

[Frankolala]

If we invest excessively, our portfolio increases but spending every month will be burdened because a lot of money goes out to bitcoin while other needs are cut because we want to increase investment every week or month, of course this will be heavy and unbalanced people will definitely find it difficult to do this.

There is no need for one to invest on whatever will be a burden on him, because an investment should be something that is tension free and burden free since you are on a long term ride. The lesser the burden on you when you are DCAing regularly, the higher chance that you have to invest in a long term to achieve your goal.

It is good when an investor on a long term bitcoin accumulation journey is sound in financial management, this will help him a lot to be flexible with his bitcoin accumulation in various stages of bitcoin price and he will continue to accumulate more bitcoin with regular DCA irrespective of bitcoin price without a problem, because he has a target that he wants to meet up in maybe 4-10yrs time. This is because he has made the available resources  to take care of every expenses that may disrupt his bitcoin accumulation journey.

[Benedictare]

  Before starting Bitcoin investment you must have prepared yourself for period of time financially because you know what it will take a and how long for that investment to mature either long term for 6-10 years or short term for monthly /weekly, and so your source of income should be enormous on other to meet up your other demands and need .
Having  a fixed amount set aside from your monthly income is not a bad idea ,so that it will not affect your DCA strategy used in investing.

  Let's take for instance  in building a house ,you just don't stand up  one day and say you want to build without planning for it and knowing how much to set aside for the project, is either you have been saving for it or have already gotten the resources for the building and how long it will take for the completion that will make your target and budget easier for you to pursue and it will be easily achieved and you will build it according to your capacity . The same way goes in investing Bitcoin you do invest above what you can afford .
 But remember investing what you can afford is the best either 5-10% or 30% and more.

[macson]

If we invest excessively, our portfolio increases but spending every month will be burdened because a lot of money goes out to bitcoin while other needs are cut because we want to increase investment every week or month, of course this will be heavy and unbalanced people will definitely find it difficult to do this.

In as much as is good trying to accumulate a huge amount of Bitcoin as soon as possible shouldn't make us to invest excessively because at first you will be enjoying and feeling very excited with how much Bitcoin you have accumulated but however when other physical needs will arise that's when you will realize the need to have a reserve funds.

Because one of the things I understand why most people invest on Bitcoin excessively is because of the fear of losing out, because whenever they see a very good buying opportunity presented by Bitcoin price they tends to invest all they have with the hope of managing to take care of there needs from other source while all there money are being invested on Bitcoin without knowing that if the other source could not satisfy there physical needs it could lead to a serious panic that would warrant them to sell some amounts of there Bitcoin.

what you write here makes perfect sense, how can you be calm about investing when you don't have any other source of money and only rely on the profits from the investment you make for living expenses, even though in this era investing is a type of "job", if you don't have a clear goal in investing, it is not possible to get good results.  profile your risks first, then organize your funds in such a way as to avoid failure to invest in the future, just imagine how much money and time you will waste if your investment goals are not clear and you panic sell, buy slowly using the concept DCA is the best method at the moment, don't use all your money, just take it slow if you want to invest in bitcoin.

[Patrol69]

~snip~

If your friend is interested in investing only because of the profit aspect of the investment, you should give him a complete understanding of the investment. This is very normal for newbies. Newbies are always in a hurry in any work. From the friend you mentioned, it sounds like your friend is more interested in investing only on the profit side of the investment, you should tell him that the amount he has the potential to gain from the investment is the same as the amount he has the potential to lose from the investment hence the profit and loss. After accepting, he should express his interest to invest. 

First of all your friend needs to know enough about investing, he will never be able to hold an investment with the same understanding that your friend has about investing. When your friend's investment shows some loss due to a small change in the market, your friend will get very excited and sell all his investment because he cannot bear the small loss. Instead of doing so after investing, he should have adequate understanding of the investment before investing. You must tell your friend the advantages of holding investments for a long time and also directly discuss with him that he needs to be patient and take risks.

Although it is not my responsibility, I am trying hard enough to give my friend an idea about investing but some of his questions bother me. No matter how much I tried to convince him about investing, he just kept asking me one question over and over again that if I can make a profit from my investment then why can't he make a profit from his investment if he invests. Every time I asked him to learn about investing first, he misunderstood me and told me I didn't want him to invest. Still patient and tried to convince him, I shared with him my beginnings in convincing him about investments. I told him like this that you are getting my support in starting but when I started investing I didn't get other's support or any other investor explained me about investing like this but still I am successful in investing only because of my efforts. I told him you will get all investment support from me but you have to try.

When I ask him about long term investment he tells me if my investment is profitable now why should he hold it long. I cannot convince him that investing is not as easy as he thinks it is. It's not like I invested and then I sold my investment but I invested and again when I got money I increased my investment that's how I increased my investment and held it for a long time only then I am now somewhat successful from my investment. Maybe it will take me some time to explain to this friend that I have to hold on to it for a long time because if I get excited about the questions he asks, I might not be able to give him a full understanding of investing. Realizing this, even after he asked the same question several times, I kept calm and tried to explain it to him again.

[JayJuanGee]

there could be some regrets about not having had invested more, but the balance likely also does have to do with being able to stick with the investment. 

One thing we always take record at time of maturity (lasted period of investment) we might think we are over investing due to how other needs that surrounds us at the initial stage of investment might think we can't manage the situation at hand, what I also understand during investment is that we may finds it very difficult to increase our investment plan just as you said either by weekly or monthly but it should be in a way that we don't over stressed ourselves knowing too well that we can't go above our capacity or income we received.

There can be several factors to consider the extent to which someone might be overinvested into bitcoin, and even though a person is overinvested, the way that they are overinvested may well not have to end up in putting their own finances in considerable stress or peril, but maybe investing a 20% or 30% allocation into bitcoin rather than your having had planned to invest 10% to 15%, so maybe you are not in peril, but your position size is much larger than what you had planned.

Sure some of this might not make any sense for some of the guys who might ONLY have bitcoin as their ONLY investment, so then they might merely need to think in terms of how much of their cashflow they are putting into bitcoin and likely you mentioned if they are putting their monthly expenses in jeopardy or maybe ONLY having 3 months of an emergency fund rather than 6 months or more.. so some of these questions of being overinvested can be on the margins rather than absolute movements into an irresponsible approach.

Another thing could be that if your bitcoin is getting to levels in which it constitutes 50% or more of your annual income and you have no other investments besides cash, you might need to consider if there might be some ways to diversify without necessarily going into shitcoins.. and sure maybe you can play the BTC accumulatoin to even higher numbers such as 1x or more of your annual income, and perhaps when it starts to get to those kinds of levels if you do not have access to investing into equities, bonds, property or commodities, then the only other thing that you have is cash, and sure some folks will keep some value in cash (maybe the dollar instead of their local fiat), but even keeping in the dollar and/or dollar equivalencies  will loose value over the long term, but it may well be one of the better ways of dealing with BTC's volatility if you end up holding so much of your own networth in bitcoin as probably your BTC will continue to grow, and if dollars are the ONLY thing that you are able to hold to offset bitcoin volatility, then you should be holding much more than 3-6 months of emergency expenses, maybe you have to double that, so if the BTC price is dropping you will have that money to buy on dips perhaps having some for buying all the way down to 20% lower than the 200-week moving average.. but even if you are using some of that money for buying bitcoin on dips, you also have your emergency funds that maybe would continue to be larger and so you might not even risk having less than 6 months of an emergency fund once you get to those higher levels of BTC accumulation and if BTC happens to be your only asset.. yeah you want to keep accumulating it, but you have to hold more cash if you have not figured out some other investments (not referring to shitcoins, except maybe less than 10% of the size of your bitcoin holdings)..

Maybe thinking how I wish their works allows them to earn higher they would have increased their investment plan maybe to make huge return or to increase profits before their expected date of harvest.

You do not seem to be framing this in "long-term" investing kinds of ways.  Long term investors do not necessarily need to consider about any harvesting, even though sure they may transition out of accumulation and into maintenance which would likely thereafter start to involve selling on the way up and maybe even making sure that some of your investments are sufficiently diversified.. so the consumption may well be included in there too.. but there would need to be some ways of transitioning into a kind of maintenance, and if that means you are at or near fuck you status, then maybe those could be ways of harvesting, or if maybe you are not thinking in terms of fuck you status, then I am not sure how much we would be on the same page in terms of how to think about the various harvesting or maintenance or just the options that any of us likely have when we have been in bitcoin long enough and we have accumulated enough to be able to experiences some of the extra freedoms that come from transitioning more into maintenance stage riather than accumulation stage.

There are a few things that I want to correct in this case because however when talking about bitcoin then right now there is no wrong time to buy when we have found what methods or strategies are suitable to do. Many feel that the price is always a benchmark in buying but when we have determined the strategy that is done especially for almost everyone who is here who says DCA actually the price is not always a benchmark because in the end we have to realize that thinking further about the price when we do DCA is just a waste of time because in the end we know that regardless of the price that is going up or down when DCA is done things like that are not the main reference because the point is in DCA not in the price.
In addition, having 1 bitcoin or more is indeed very good but that does not mean we have to have 1 bitcoin as our benchmark as an investor because that kind of thinking makes us too focused on one thing but not thinking about other conditions.
We just have to focus on doing what we can do, no need to peg that we have to collect 1 bitcoin or more as a condition that we are an investor because we are not here to burden ourselves.

It seems to me that there is nothing wrong with having goals, and maybe considering how realistic the goals are and/or what is the reason for something like a 1 BTC goal.. it is a bit of a unit bias kind of a setting, and like I mentioned earlier, if someone were either brand new to bitcoin or just recently beginning to accumulate bitcoin, then having a goal to get to one bitcoin in 10 years, would likely require around $200 per week invested into bitcoin... for those persons who do not have the cash to front load their investment into bitcoin.

So if we attempt to be realistic with our goals, then we may welll also like to have short and medium term goals too that might involve what are we attempting to achieve this year and maybe what are we attempting to achieve in the next 5 years... so in the end we could have several different kinds of short and medium term goals that could be working towards the achievement of the longer term goal that might seem quite far off.. something like 10 years or even having goals of 20 to 30 years is also not unrealistic, even though they might have a lot of complicated steps along the way that might end up causing them to need to be adjusted later down the road if it might appear that we are not on the right track.

Indeed, there is nothing wrong and I also said in my previous writing that it is a good thing but if in the end we are only busy with the goal of reaching the target of 1 bitcoin but without thinking about other conditions it is not something good of course so instead of pegging ourselves to have 1 bitcoin in the investment made it would be better to focus on the strategy we do when buying because in the end whether it ends up at 1 btc or even less than that we have still tried our best so that no regrets will occur. Having a benchmark that we must have at least 1 btc or more in the investment made will actually make us feel burdened by the amount we have to pursue (lack of the amount of btc to collect) rather than being like that it is better to minimize all possibilities by focusing on collecting btc consistently without thinking about how many btc we collect for the ultimate goal.

Let's get back to the 1 bitcoin in 10 years goal, and even if a person realizes that there likely needs to be around $200 per week invested into bitcoin in order to make such goal realistic, such person could still maintain such goal for a while even if the first year, s/he had only been able to invest $20 per week, but there may be some visions regarding how the income might be able to be raised and/or how the expenses might be able to be cut in order to bring the weekly amount up to $200 per week.  At the same time, if after about 5 years, the average bought per week had only been around $100 per week, then there would be a lot of short fall, and maybe even a need to get the weekly amount up to $400 to $800 in order to be able to still be able to reach the 1 BTC in 10 years goal, and maybe by the time we start to get to 7 or 8 years, there could be some acknowledgement that it might end up taking somewhere between 12 years and 15 years to reach such 1 BTC goal.. so there could be a lot of ways that the aspirational goals end up playing out in terms of perhaps being a bit high.. or even in some other cases, the goal ends up getting reached much sooner than seemed possible, and so adjustments could be made in regards to reaching the goal sooner than expected, and maybe even considering that some of the goals that were created were NOT hard (and/or high) enough.

Now this is the situation that I mean when someone has a target to have 1 bitcoin for example within a certain period of time then it must definitely think about how much budget we have to travel to get to 1 btc within that period of time. If we use the example of $200 in a week then indeed we must be prepared with that nominal regardless of the economy we have while to invest $200 in a week consistently not everyone can which is precisely this will be an obstacle so instead of like that, it is better to focus on the investments that we can and do so as not to hamper our other needs for life as for the amount of btc collected (although not 1 btc) it will not be a problem because we will still be investors and get benefits if we do it the right way.

Well, if we look at the fact that we might ONLY be able to invest $100 or less per week, and then that it would take $200 per week for 10 years to have some kind of chance of reaching 1 BTC, then maybe we have to acknowledge that 1 BTC is not realistic, and maybe we should be shooting for 0.5 BTC or something else that is more reasonable.  Sure, there are likely balances between creating realistic goals and also being able to achieve the goals, so there could be some goals that might be out of reach, but they are aspirational goals and we might say to ourselves that it does not seem too likely that I am ever going to get to 1 BTC in 10 years, and so I am shooting for 0.5 BTC in 10 years.. and if I reach 0.5 BTC earlier then, I can reassess the situation.

Another thing might be to exstablish the goal in terms of dollars, so that you might say that I am going to invest between $50 and $250 into bitcoin per week for 10 years, and I expected to on average invest more than $100 per week, so I should be able to have $52k invested into bitcoin after 10 years.. If things go well then I will end up having more than that then amongst the better of the scenarios would be that I could get up to $130k invested, and surely the worse case scenario would be having around $26k invested... but the base case is an expectation of having had invested $52k after 10 years.

That is a flexible goal and it is in terms of dollars rather than in terms of bitcoin, which likely makes more sense especially since it is difficult to know what the BTC price is going to be... and if things change for us along the way, such as our income increases and/or our expenses decrease,  then maybe we are able to change the range to be from $150 per week to $400 per week because we have been able to increase our disposable income along the way and to strike a balance that we believe would be better for our situation and allow us to adjust our targets too, depending on when the new plan goes into place, and these kinds of adjustments could end up happening several times within a 10 year time frame.

The extent to which we create too much stress upon ourselves is a product of our own choosing.. especially if we are setting our own goals rather than letting someone else tell us what our goals should be.

~snip~

If your friend is interested in investing only because of the profit aspect of the investment, you should give him a complete understanding of the investment. This is very normal for newbies. Newbies are always in a hurry in any work. From the friend you mentioned, it sounds like your friend is more interested in investing only on the profit side of the investment, you should tell him that the amount he has the potential to gain from the investment is the same as the amount he has the potential to lose from the investment hence the profit and loss. After accepting, he should express his interest to invest. 

First of all your friend needs to know enough about investing, he will never be able to hold an investment with the same understanding that your friend has about investing. When your friend's investment shows some loss due to a small change in the market, your friend will get very excited and sell all his investment because he cannot bear the small loss. Instead of doing so after investing, he should have adequate understanding of the investment before investing. You must tell your friend the advantages of holding investments for a long time and also directly discuss with him that he needs to be patient and take risks.

Although it is not my responsibility, I am trying hard enough to give my friend an idea about investing but some of his questions bother me. No matter how much I tried to convince him about investing, he just kept asking me one question over and over again that if I can make a profit from my investment then why can't he make a profit from his investment if he invests. Every time I asked him to learn about investing first, he misunderstood me and told me I didn't want him to invest. Still patient and tried to convince him, I shared with him my beginnings in convincing him about investments. I told him like this that you are getting my support in starting but when I started investing I didn't get other's support or any other investor explained me about investing like this but still I am successful in investing only because of my efforts. I told him you will get all investment support from me but you have to try.

When I ask him about long term investment he tells me if my investment is profitable now why should he hold it long. I cannot convince him that investing is not as easy as he thinks it is. It's not like I invested and then I sold my investment but I invested and again when I got money I increased my investment that's how I increased my investment and held it for a long time only then I am now somewhat successful from my investment. Maybe it will take me some time to explain to this friend that I have to hold on to it for a long time because if I get excited about the questions he asks, I might not be able to give him a full understanding of investing. Realizing this, even after he asked the same question several times, I kept calm and tried to explain it to him again.

It cannot necessarily be easy to talk with people about how to invest for the long term, and even starting out with 4-10 years or longer might not be enough.  I can say that I invested in bitcoin for 10 years, and this is my level of profits, but the fact that bitcoin performed well over the last 10 years does not mean it is going to perform similarly in the next 10 years, so surely investment strategies have to be adjusted to the person and even a realization that it might take longer than 10 years to really start to feel compounding effects, even if someone is starting right now.

There is ONLY so much hand holding that any of us should be willing to do, especially since each person needs to be responsible for his/her own investment choices, and it might not be a good idea to get into an investment advisor position with such a person, and even investment advisors likely are not able to guarantee results, and they make sure that the client is making the choices or agreeing to the allocation strategies.  Investment advisors tend to take a fee which could be a flat fee or it could be a percentage of the earnings or maybe in some cases, it is both.

[Litzki1990]

Although it is not my responsibility, I am trying hard enough to give my friend an idea about investing but some of his questions bother me. No matter how much I tried to convince him about investing, he just kept asking me one question over and over again that if I can make a profit from my investment then why can't he make a profit from his investment if he invests. Every time I asked him to learn about investing first, he misunderstood me and told me I didn't want him to invest. Still patient and tried to convince him, I shared with him my beginnings in convincing him about investments. I told him like this that you are getting my support in starting but when I started investing I didn't get other's support or any other investor explained me about investing like this but still I am successful in investing only because of my efforts. I told him you will get all investment support from me but you have to try.

When I ask him about long term investment he tells me if my investment is profitable now why should he hold it long. I cannot convince him that investing is not as easy as he thinks it is. It's not like I invested and then I sold my investment but I invested and again when I got money I increased my investment that's how I increased my investment and held it for a long time only then I am now somewhat successful from my investment. Maybe it will take me some time to explain to this friend that I have to hold on to it for a long time because if I get excited about the questions he asks, I might not be able to give him a full understanding of investing. Realizing this, even after he asked the same question several times, I kept calm and tried to explain it to him again.

Yes I understand that it is not your responsibility but as he is your friend so if you can give him some investment ideas now even though it is a little difficult then one day he will definitely remember you and he himself will remember this benefit of yours without knowing it. This time of your friend is the beginning of investing so he is asking such questions when he has some idea about investing and once he has some understanding about investing you will see that he is not asking such questions anymore. We have enough knowledge about investment so investment seems very easy to us but for a new member investment is very difficult in the beginning. Your friend may be thinking that the present time is the time to gain. That is why he is only saying repeatedly that if your investment is profitable then why his investment will not be profitable. Try to teach him about long-term investing as well as give him a little bit of investment ideas every day because if you try to teach him too much in one day, he won't be able to absorb so many ideas in one day. 

As you are an investor you must understand if he is interested in learning, if he is interested in learning then you can spend time on him but if he is not interested in learning then I think your journey of giving him investment ideas ends here. 

There is ONLY so much hand holding that any of us should be willing to do, especially since each person needs to be responsible for his/her own investment choices, and it might not be a good idea to get into an investment advisor position with such a person, and even investment advisors likely are not able to guarantee results, and they make sure that the client is making the choices or agreeing to the allocation strategies. Investment advisors tend to take a fee which could be a flat fee or it could be a percentage of the earnings or maybe in some cases, it is both.

The investor has to bear the full risk of the investment, the person giving the investment idea to a new person has no vested interest in it, he can only give the idea to an investor. If the mind-set of a new investor is such that after making an investment he will blame the loss on the investor who taught him about investing, I think he should refrain from giving the idea of investment relationship.

[MusaPk]

Although it is not my responsibility, I am trying hard enough to give my friend an idea about investing but some of his questions bother me. No matter how much I tried to convince him about investing, he just kept asking me one question over and over again that if I can make a profit from my investment then why can't he make a profit from his investment if he invests. Every time I asked him to learn about investing first, he misunderstood me and told me I didn't want him to invest. Still patient and tried to convince him, I shared with him my beginnings in convincing him about investments. I told him like this that you are getting my support in starting but when I started investing I didn't get other's support or any other investor explained me about investing like this but still I am successful in investing only because of my efforts. I told him you will get all investment support from me but you have to try.

When I ask him about long term investment he tells me if my investment is profitable now why should he hold it long. I cannot convince him that investing is not as easy as he thinks it is. It's not like I invested and then I sold my investment but I invested and again when I got money I increased my investment that's how I increased my investment and held it for a long time only then I am now somewhat successful from my investment. Maybe it will take me some time to explain to this friend that I have to hold on to it for a long time because if I get excited about the questions he asks, I might not be able to give him a full understanding of investing. Realizing this, even after he asked the same question several times, I kept calm and tried to explain it to him again.

Your intentions are good but if somebody is not understanding you despite your hard work then better spend time on someone who is willing to understand what you are trying to say.
Investment is not a bed of roses that you invest one day and next day or week you will get the profit. Those who are successful investors today have spend initial time and effort in understanding how this works. Bitcoin is a good investment even then we have to device a strategy that works for us.
One more thing is, we all have different way of looking at things so it is not necessary that something that work for you will work for me.

[Andrija Branislav]

 Before starting Bitcoin investment you must have prepared yourself for period of time financially because you know what it will take a and how long for that investment to mature either long term for 6-10 years or short term for monthly /weekly, and so your source of income should be enormous on other to meet up your other demands and need .
Having  a fixed amount set aside from your monthly income is not a bad idea ,so that it will not affect your DCA strategy used in investing.

  Let's take for instance  in building a house ,you just don't stand up  one day and say you want to build without planning for it and knowing how much to set aside for the project, is either you have been saving for it or have already gotten the resources for the building and how long it will take for the completion that will make your target and budget easier for you to pursue and it will be easily achieved and you will build it according to your capacity . The same way goes in investing Bitcoin you do invest above what you can afford .
 But remember investing what you can afford is the best either 5-10% or 30% and more.

Indeed, this is a real example if we look at the life of building an average house, which we rarely see unless it is someone who has enough funds and is an established entrepreneur.

Well, inspired by that too. Maybe when it comes to investing in BTC, people are rarely able to buy at once, for example 1 BTC. Well, with the DCA method this is another way to get there. although little by little and the times are also supportive for now it is still cheap because BTC is still on its way to a new ATH. Possible.

[Ruttoshi]

 Before starting Bitcoin investment you must have prepared yourself for period of time financially because you know what it will take a and how long for that investment to mature either long term for 6-10 years or short term for monthly /weekly, and so your source of income should be enormous on other to meet up your other demands and need .
Having  a fixed amount set aside from your monthly income is not a bad idea ,so that it will not affect your DCA strategy used in investing.

  Let's take for instance  in building a house ,you just don't stand up  one day and say you want to build without planning for it and knowing how much to set aside for the project, is either you have been saving for it or have already gotten the resources for the building and how long it will take for the completion that will make your target and budget easier for you to pursue and it will be easily achieved and you will build it according to your capacity . The same way goes in investing Bitcoin you do invest above what you can afford .
 But remember investing what you can afford is the best either 5-10% or 30% and more.

Indeed, this is a real example if we look at the life of building an average house, which we rarely see unless it is someone who has enough funds and is an established entrepreneur.

Well, inspired by that too. Maybe when it comes to investing in BTC, people are rarely able to buy at once, for example 1 BTC. Well, with the DCA method this is another way to get there. although little by little and the times are also supportive for now it is still cheap because BTC is still on its way to a new ATH. Possible.

I don't see buying bitcoin as the same thing with building a house. This is because when you want to build a house, you must have a huge amount of money to start with, but bitcoin doesn't need that just a small percentage from your income will get you started as long as it doesn't affect other budgets for the monthly. With some amount, you can use it to continue buying over a long period of time to increase your bitcoin portfolio.

To build a house is very expensive and needs experts in various areas, but bitcoin investment doesn't need a third party, as long as you know how to save some money from your income for something important that you want to achieve. You can also be investing that money into bitcoin and assume that the important thing you want to have is to reach your bitcoin target in a given timeline, let's say from four years and above. This is why the DCA strategy is recommended and the best for everyone but more in favour of the the low income earners who cannot lump sum. The rich has also admire this strategy and those of them that have the passion to keep on buying bitcoin are using the DCA method too.

[Salahmu]

 Before starting Bitcoin investment you must have prepared yourself for period of time financially because you know what it will take a and how long for that investment to mature either long term for 6-10 years or short term for monthly /weekly, and so your source of income should be enormous on other to meet up your other demands and need .
Having  a fixed amount set aside from your monthly income is not a bad idea ,so that it will not affect your DCA strategy used in investing.

  Let's take for instance  in building a house ,you just don't stand up  one day and say you want to build without planning for it and knowing how much to set aside for the project, is either you have been saving for it or have already gotten the resources for the building and how long it will take for the completion that will make your target and budget easier for you to pursue and it will be easily achieved and you will build it according to your capacity . The same way goes in investing Bitcoin you do invest above what you can afford .
 But remember investing what you can afford is the best either 5-10% or 30% and more.

Indeed, this is a real example if we look at the life of building an average house, which we rarely see unless it is someone who has enough funds and is an established entrepreneur.

Well, inspired by that too. Maybe when it comes to investing in BTC, people are rarely able to buy at once, for example 1 BTC. Well, with the DCA method this is another way to get there. although little by little and the times are also supportive for now it is still cheap because BTC is still on its way to a new ATH. Possible.

I don't see buying bitcoin as the same thing with building a house. This is because when you want to build a house, you must have a huge amount of money to start with, but bitcoin doesn't need that just a small percentage from your income will get you started as long as it doesn't affect other budgets for the monthly. With some amount, you can use it to continue buying over a long period of time to increase your bitcoin portfolio.

Perhaps you seem to misunderstood his points because he was not actually comparing buying Bitcoin with the same as buying a house, perhaps from my little understanding from the point he is trying to make is that in everything we do has a process to undergo before starting or getting to the destination, and that even if in times of building a house is difficult to start and completing it immediately on less is someone that has other means of income.

And referring it to Bitcoin investment it will be very difficult for someone to buy one full Bitcoin at a time on less is someone that's very wealthy but however others could gradually achieve it with a normal DCA strategy by buying a bit by bit maybe with the target of 10 years it could be achieved.

[adultcrypto]

I don't see buying bitcoin as the same thing with building a house. This is because when you want to build a house, you must have a huge amount of money to start with, but bitcoin doesn't need that just a small percentage from your income will get you started as long as it doesn't affect other budgets for the monthly. With some amount, you can use it to continue buying over a long period of time to increase your bitcoin portfolio.

On the contrary some people built their houses starting from small without having large account balance at the beginning. Some started by just moulding few blocks, from their they do more until they achieved their target of building  a house over several years. In the ongoing war between Isreal and Hamas, I saw a video of a man crying that the house he spent 40 year to build have been destroyed and I was shocked to realise that someone can build a house for that long. It is not a good situation to be in but I'm just letting you know that financial situation can make people do things differently. It is all about planning and being determined.

The only difference between what you are saying and why I feel that such comparison is not necessary is that while Bitcoin is an investment, building a house is a necessity unless perhaps you are making the comparison on the basis of someone going into real estate which is also an investment. In this case, it cost a lot of money to get started and the money invested could yield different and better results if injected into Bitcoin.  Nevertheless, it is a think of individual knowledge, understanding  and preference.

[hyudien]

That is it, having additional source of income makes one remain balance in terms of expenses or over expenditure within the period of investment, when having multiple stream of income it reduces tension and the fear to temper their investment without getting to the stage of maturity.
People fails to understand the fact that before they go into whatever investment or even savings they should have another means that would also increase their chances of not touching their money, just like bitcoin at this point when we are experiencing a bull trend isn't something one should temper due to lack and want it reduces profits .

Since the beginning of investing in any type of asset having a balanced income is the main thing. But we realize that not everyone is in an ideal position in terms of investment. But still try to force themselves to cut mediocre funds and put them into Bitcoin. As a result, it is difficult to implement consistent investment. For example, lately my income has decreased because the agricultural business is being hit by a long drought. Automatically affects the investment that I have been running so far. This simple example shows how important it is to have a source of income. I who felt quite calm now began to worry that the next few months could not increase the value of investment in Bitcoin.

[Lidger]

Although it is not my responsibility, I am trying hard enough to give my friend an idea about investing but some of his questions bother me. No matter how much I tried to convince him about investing, he just kept asking me one question over and over again that if I can make a profit from my investment then why can't he make a profit from his investment if he invests. Every time I asked him to learn about investing first, he misunderstood me and told me I didn't want him to invest. Still patient and tried to convince him, I shared with him my beginnings in convincing him about investments. I told him like this that you are getting my support in starting but when I started investing I didn't get other's support or any other investor explained me about investing like this but still I am successful in investing only because of my efforts. I told him you will get all investment support from me but you have to try.

When I ask him about long term investment he tells me if my investment is profitable now why should he hold it long. I cannot convince him that investing is not as easy as he thinks it is. It's not like I invested and then I sold my investment but I invested and again when I got money I increased my investment that's how I increased my investment and held it for a long time only then I am now somewhat successful from my investment. Maybe it will take me some time to explain to this friend that I have to hold on to it for a long time because if I get excited about the questions he asks, I might not be able to give him a full understanding of investing. Realizing this, even after he asked the same question several times, I kept calm and tried to explain it to him again.

One who is interested in learning should spend time on it but one who has no interest in learning I think there is no point in wasting time on him unnecessarily.  
Your friend's activities like this reminded me of my childhood when the teacher would try hard to teach me about certain subjects but I would not try to learn them. At that time I did not try to learn the teacher gave me some scolding and the next day took another lesson here the teacher did his work and took his salary at the end of the month only I did not learn from the middle. I cheated then, because of cheating I could not learn about that subject but the loss was mine and not the teacher's. If I had paid attention back then and asked the teacher questions about things I didn't understand, I might have known a lot more than what I know now. I didn't understand then like I do now, if I understood then like now I would never have skipped my studies.  


Your friend is not young enough to catch him and teach him about investing. Your friend must be willing to learn, if he is not interested in learning but you are more interested in teaching him, no matter how hard you try to give him good ideas about investing, he will never accept your good ideas.  

First discuss the general issues about investment with him directly, tell him that if his money gets damaged after investing then you are not responsible because he has to take the risk of his money. And to clarify the matter you can tell him that the amount of money he invests he should forget the illusion of money anything can happen with this money. If he accepts these and expresses interest in investing, then you spend time on him.

[salad daging]

That is it, having additional source of income makes one remain balance in terms of expenses or over expenditure within the period of investment, when having multiple stream of income it reduces tension and the fear to temper their investment without getting to the stage of maturity.
People fails to understand the fact that before they go into whatever investment or even savings they should have another means that would also increase their chances of not touching their money, just like bitcoin at this point when we are experiencing a bull trend isn't something one should temper due to lack and want it reduces profits .

It can be said that when they have other sources of income, at least expenses will be balanced between investments and your needs during the month because there is no more severe strain because they have adjusted from other income.

Yes, it is better to increase income opportunities first rather than investing directly with mediocre money, then it will not be in line and end up breaking up halfway because the money used is not sufficient for investment anymore, while by increasing income sources we can more freely set up investment plans and emergency funds, there is no greater tension because income has been increased so it is more sufficient to start investing.

[BABY SHOES]

There is no need for one to invest on whatever will be a burden on him, because an investment should be something that is tension free and burden free since you are on a long term ride. The lesser the burden on you when you are DCAing regularly, the higher chance that you have to invest in a long term to achieve your goal.

It is good when an investor on a long term bitcoin accumulation journey is sound in financial management, this will help him a lot to be flexible with his bitcoin accumulation in various stages of bitcoin price and he will continue to accumulate more bitcoin with regular DCA irrespective of bitcoin price without a problem, because he has a target that he wants to meet up in maybe 4-10yrs time. This is because he has made the available resources  to take care of every expenses that may disrupt his bitcoin accumulation journey.

Tension is natural but you must be able to control it, if one does not engage in investment then it will not add any wealth and keeping money in fiat is not an investment but will continue to be depleted by inflation every year.

Well... All of that must be carefully planned and with an increase from other sources of income because this is important to increase your investment to grow the investment portfolio, any other funds then it must be prepared and manage it well if you are able to do so then the investment journey with DCA accumulation will not be too complicated because you yourself have managed it well.

What to do: Never leave work because every time the monthly salary will be your needs, look for other income of course this will increase your aggression towards bitcoin so that investment continues to grow, manage funds as well as possible, reserve funds must be ready at least 3-6 months to cover it.

[Lidger]

That is it, having additional source of income makes one remain balance in terms of expenses or over expenditure within the period of investment, when having multiple stream of income it reduces tension and the fear to temper their investment without getting to the stage of maturity.
People fails to understand the fact that before they go into whatever investment or even savings they should have another means that would also increase their chances of not touching their money, just like bitcoin at this point when we are experiencing a bull trend isn't something one should temper due to lack and want it reduces profits .

It can be said that when they have other sources of income, at least expenses will be balanced between investments and your needs during the month because there is no more severe strain because they have adjusted from other income.

Yes, it is better to increase income opportunities first rather than investing directly with mediocre money, then it will not be in line and end up breaking up halfway because the money used is not sufficient for investment anymore, while by increasing income sources we can more freely set up investment plans and emergency funds, there is no greater tension because income has been increased so it is more sufficient to start investing.

No matter what profession we are in or what financial situation we are in, we should always think of alternatives to our financial income. When we have multiple sources of financial income, if one source of financial income stops, we will still get financial support from another source. I look up to my father and I always try to follow my father.

My father is a government employee and he belongs to the first grade salary of our country he gets good money salary at the end of the month but he is not satisfied with that much. We have a village house where my father has dug several ponds and there my father has been making good profit from fish farming for several years and we also have several chicken farms and a small cow farm. My father earns every month from his village home business to earn more than the salary he gets from his government job. He gave me financial freedom but he told me to spend money in the right place in the right way. My father is working as well as running several businesses and I am investing his money in bitcoins instead of misusing it. 

I have a plan now that I will never waste the money I take from him but I will invest a part of that money in Bitcoin and keep that investment for a long time. After investing in Bitcoin for a long time I have a dream that one day I will hand over a huge amount to my father and tell him that I did not spend your money in the wrong place at all.