Buy the DIP, and HODL!

[JayJuanGee]

Even due someone is investing in Bitcoin for the short term or the long term, it is advisable the person should have a source of income so that he/she will not rely on selling his Bitcoin holding to solve his life challenges. Fomo can also make someone to sell his Bitcoin holdings because he/she invested in Bitcoin to get some profit in an estimated time but when the profit doesn't come and the price of Bitcoin dips, that person might be forced to sell off his Bitcoin even at a loss.

If a person invests in BTC while they themselves do not have a source of income, their investment path will not reach their destination or be long term.
Life is full of challenges so a source of income is important if you only rely on investment alone then it will not be profitable while we know the price of bitcoin will not directly increase in a short time of course this requires a long time process so in addition you invest then on the one hand a source of income must exist to fulfill your life.

People who have invested while there is no source of income then undoubtedly the ownership will not be long will definitely sell in the middle of the road whether it is because of the needs of life, or fomo, it could be because the price dropped and sold it for fear of loss.

But with you there is already a source of income at least there is no pressure on your bitcoin ownership, so this can still survive to hold BTC.

That source of income is an interesting question.. because it is not an absolute to have a source of income, but if the person does not, then living off of their investments would be the source of income.. so it may or may not be healthy to start drawing upon your investment right away, but then the healthiness and/or the sustainability of drawing from one's investment has to do with the amount invested, how it is valued and then the withdrawal rate which would hopefully be enough to cover how much the person needs to live on a monthly and/or annual basis...  

Usually, it is considered that a person can perpetually withdraw at 4% per year as long as the investment is growing at least at that rate... so if a person had a $1million bitcoin investment, then s/he should be able to withdraw $3,333 per month, but then the question would be how to value the investment, and I personally like to use the 200-week moving average for that, so the 200-week moving average is almost $29k, so $1 million would be 34.4827586 BTC, and so then there might be questions about whether to make withdrawals monthly, quarterly, annually or some other period of time, and so there could be strategies about withdrawals in such a way that is able to pretty much maintain the value of the BTC.. but maybe even for the BTC to continue to grow beyond the 4% withdrawal rate that also might get adjusted up with inflation, but also the person needs to develop some strategies around preserving the principle and not spending above a sustainable withdrawal rate.

A mistake that many people make is to prematurely withdraw the principle... but with bitcoin the errors still might be able to work themselves out as long as you still are careful not to overly withdraw too early.... and if you ONLY have 10 BTC, but you really should have 34.5 BTC, then you might not really be ready to live off of the 10 BTC, and so then a cashflow might be helpful until the 200 week moving average might reach $100k that will cause the 10 BTC to be worth  $1million or maybe you might need them to reach $2million in value before you are able to feel comfortable to start to withdraw from them, so if you ONLY have 10 BTC then you would need the 200-week moving average to go up to $200k.. which may well be reason to preserve some other cashflow while the 200-week moving average is catching up to your desired area... which well could take 10 years for the 200-week moving average to move up from $29k to $200k and also it is not guaranteed, but a person with 10 BTC right now and a cashflow that is able to sustain themselves for another 10 years, may well be sitting pretty right now with such potentially good prospects... that are not guaranteed, even though from my perspective, they seem pretty good as I type this post....

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[ginsan]

Actually there is a saying that putting all your eggs in one basket is a very risky one because if anything should happen to the basket all the eggs are gone, so relating it to what you are saying, however you are correct because as an investor or a business man is never an ideal to have only one single investment because if anything should happen to it, you will be hit back starting from square one.

So as a bitcoin investor in as much as bitcoin is one of the best and reliable investment I will not encourage someone to have only one source because we know it takes a longer time before seeing a profits on your bitcoin investment since you are holding.

So perhaps having other source of income will serve as an appetizer that will take care of your daily needs while your bitcoin investment is up and running.

Your explanation is very roundabout and I don't really understand. You mean if investors put their money in Bitcoin and that of course puts their hopes in one bag, is that true?

I think Bitcoin investment is the most appropriate investment and I only focus on Bitcoin investment for my long term investment. Examining an explanation is sometimes difficult to make sense but those words are not intended for Bitcoin holders but shitcoin. If we focus on Bitcoin and make regular purchases, it is better to forget about altcoins or other shitcoins because they will disturb you in the Bitcoin investment journey that you have set in long-term planning.

Keep accumulating Bitcoin whenever you have more money than your income because buying it regularly will make you more confident in being able to hold it for a long time.

[Hatchy]

Your explanation is very roundabout and I don't really understand. You mean if investors put their money in Bitcoin and that of course puts their hopes in one bag, is that true?

I think Bitcoin investment is the most appropriate investment and I only focus on Bitcoin investment for my long term investment. Examining an explanation is sometimes difficult to make sense but those words are not intended for Bitcoin holders but shitcoin. If we focus on Bitcoin and make regular purchases, it is better to forget about altcoins or other shitcoins because they will disturb you in the Bitcoin investment journey that you have set in long-term planning.

Keep accumulating Bitcoin whenever you have more money than your income because buying it regularly will make you more confident in being able to hold it for a long time.

I think what @ Roseline492 is saying, isn't to invest in shitcoins, but rather to diversify your investment on other profitable investments including Bitcoin. Yes, Bitcoin investment can produce lots of profit when held for a long term, but you should be aware that since you will hodl for such long time, you might want to invest in other things that might be able to give you profits on the long run. Such investments might be land,or real estate business which we all know that it's value appreciates as development takes place over time. Having such investment along side your Bitcoin investments might be a good planning strategy for an investor. You can purchase more Bitcoin using the annual earnings from such investment and as well solve some other personal expenses that might arise, leaving your Bitcoin investments for fully long term and continuous accumulation.

[Richbased]

Even due someone is investing in Bitcoin for the short term or the long term, it is advisable the person should have a source of income so that he/she will not rely on selling his Bitcoin holding to solve his life challenges. Fomo can also make someone to sell his Bitcoin holdings because he/she invested in Bitcoin to get some profit in an estimated time but when the profit doesn't come and the price of Bitcoin dips, that person might be forced to sell off his Bitcoin even at a loss.

If a person invests in BTC while they themselves do not have a source of income, their investment path will not reach their destination or be long term.
Life is full of challenges so a source of income is important if you only rely on investment alone then it will not be profitable while we know the price of bitcoin will not directly increase in a short time of course this requires a long time process so in addition you invest then on the one hand a source of income must exist to fulfill your life.

A lot of people that do invest their money on bitcoin rely on it to rise so that they can trade it, it's only few bitcoin investors that have the mind of hodling their bitcoin for a long time let's just be very realistic, many people that buy bitcoins monitors the activities in the price of stocks in the market. And inasmuch as investment is concerned, whoever that invested their money on a particular project is hoping to make profits so due to the fluctuations in market prices, you can't blame someone that chooses to sell off his bitcoins if he notices that instead of the price to go high it start dipping so they're always in fear of losing everything thereby the reason for them selling off the little they've accumulated.

People who have invested while there is no source of income then undoubtedly the ownership will not be long will definitely sell in the middle of the road whether it is because of the needs of life, or fomo, it could be because the price dropped and sold it for fear of loss.

Basically, anyone who invest in bitcoins without having an alternative means of income is taking a higher risk which isn't advisable because if things doesn't really go the way they expected, they may run into depression because all their energy is being focused on making profit in it so a situation where it doesn't go towards that direction, it becomes a problem.

But with you there is already a source of income at least there is no pressure on your bitcoin ownership, so this can still survive to hold BTC.

It is important to have a source of income before buying and hodling bitcoin for a long time, and looking from the framework of bitcoin since it was introduced, we can see that it requires a long interval of time before one can make a reasonable profit in it.

[Mayor of ogba]

Even due someone is investing in Bitcoin for the short term or the long term, it is advisable the person should have a source of income so that he/she will not rely on selling his Bitcoin holding to solve his life challenges. Fomo can also make someone to sell his Bitcoin holdings because he/she invested in Bitcoin to get some profit in an estimated time but when the profit doesn't come and the price of Bitcoin dips, that person might be forced to sell off his Bitcoin even at a loss.

You're right, some Invested in bitcoin as their one and only last means for financial breakthrough and all minds are on it, what we should have done is to make sure that bitcoin Investment is not the only thing we do, we have to create time and efforts on other assets to complement each other because bitcoin may not be as this always on the bullish and we may needed to sell while the market is unfavourable at dip all because we are in need of money to carter for other things in demands.

Actually there is a saying that putting all your eggs in one basket is a very risky one because if anything should happen to the basket all the eggs are gone, so relating it to what you are saying, however you are correct because as an investor or a business man is never an ideal to have only one single investment because if anything should happen to it, you will be hit back starting from square one.

So as a bitcoin investor in as much as bitcoin is one of the best and reliable investment I will not encourage someone to have only one source because we know it takes a longer time before seeing a profits on your bitcoin investment since you are holding.
 

Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.

So perhaps having other source of income will serve as an appetizer that will take care of your daily needs while your bitcoin investment is up and running.

When I mentioned "source of income" what I meant was someone going into Bitcoin investment should have a means of survival either by having a good business or a good pay job that will allow you to freely invest in Bitcoin and also take care of your daily needs so that you will not depend in your Bitcoin investment to solve your financial issues.

[Litzki1990]

Even due someone is investing in Bitcoin for the short term or the long term, it is advisable the person should have a source of income so that he/she will not rely on selling his Bitcoin holding to solve his life challenges. Fomo can also make someone to sell his Bitcoin holdings because he/she invested in Bitcoin to get some profit in an estimated time but when the profit doesn't come and the price of Bitcoin dips, that person might be forced to sell off his Bitcoin even at a loss.

You're right, some Invested in bitcoin as their one and only last means for financial breakthrough and all minds are on it, what we should have done is to make sure that bitcoin Investment is not the only thing we do, we have to create time and efforts on other assets to complement each other because bitcoin may not be as this always on the bullish and we may needed to sell while the market is unfavourable at dip all because we are in need of money to carter for other things in demands.

Those who have additional financial crisis do not invest but those who do not have to spend that investment after investing but invest when caught. As an investor invests with a lot of hope, I don't think he invests when he invests. Then he plans to sell his investment in a short period of time rather than he plans to hold his investment for a long time. In the case of an investor, if he is facing a financial crisis and he has tried hard to overcome that financial crisis, but he is unable to overcome that financial crisis in any way. Now the only way open to him is to sell his investment to overcome his financial crisis in which case the person must sell his investment even if he doesn't want to. 

Investing in a long-term plan means that we should forget about the amount of money we will invest in Bitcoin, that is, the expenses we will incur or the needs we will meet in the future must be met completely with money outside of our investment. 
Every investor invests in future plans, if we invest now and sell the investment after a few days then that investment will never fulfill our expectations but after investing we have to be patient and hold the investment. After investing we should not think that we have bitcoin investment if we plan to hold that investment for a long time because whenever we think that we have bitcoin investment we may want to sell our investments to meet our needs. 

An investor needs to be very patient to invest boldly and hold that investment, not to worry about small changes in the market. If an investor can think about his investment in this way then he can definitely hold his investment for a long time.

[Salahmu]

A lot of people that do invest their money on bitcoin rely on it to rise so that they can trade it, it's only few bitcoin investors that have the mind of hodling their bitcoin for a long time let's just be very realistic, many people that buy bitcoins monitors the activities in the price of stocks in the market. And inasmuch as investment is concerned, whoever that invested their money on a particular project is hoping to make profits so due to the fluctuations in market prices, you can't blame someone that chooses to sell off his bitcoins if he notices that instead of the price to go high it start dipping so they're always in fear of losing everything thereby the reason for them selling off the little they've accumulated.

Well I wouldn't say you are wrong because every investor is entitled to there decision and believe or rather a target, so however just like this thread that educate people about holding so it will be left for an investor to either listen or they go for the strategy they feel is more suitable for them because most people especially the beginners fails to understand the risk on chasing bitcoin price and the emotional and psychological involvement on it.

So imagine how you could be feeling watching your bitcoin price dropping below your entry points, I think one of the factors that drives the minds of most investors is greed to always take advantage of the bitcoin price movement forgetting that trading is not like holding because the possibility of losing everything at a time is very high in times of trading and the only time you could really see what the future holds for bitcoin is by holding.

[Obim34]

Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.

I understand your point relating to the risk factor of this altcoins but at a point I had to settle down and make close observation into this altcoins and I feel at some point they are worth investing into but extreme caution needs to be taken.
Just the way strategies are applied in accumulating Bitcoin that is how strategic you need to be when buying this altcoins, quote me
here  Not for a long term hold.

Altcoins are most a pump and dump coin, we know after making waves and all that it must surely dump and very difficult to see any altcoins bounce back so why can't I venture into the market at a very short period of time might be weeks and earn that profit when it's pump and before it's dump I sell.

Bitcoin is the ultimate and no other currency stands a chance but considering the fact that just with little investment in altcoins you can make profits from it within a short period of time and still add those profits into my Bitcoin portfolio.
Altcoins are risky? Yes. Bitcoin is risky? No. That is one difference between them considering the risk factor

[Ruttoshi]

however you are correct because as an investor or a business man is never an ideal to have only one single investment because if anything should happen to it, you will be hit back starting from square one.

To start up any investment is not easy, the only investment that one can get started easily is bitcoin investment because you can start with any amount of money. You should also know that we are talking about beginners, who just want to start their bitcoin journey. Especially low income earners who don't have much to invest due to their little cash inflow, such persons should focus on only buying bitcoin and accumulating with the little amount that he can afford through regular DCA as is the superior to the other two methods, so that he can stay focused on building his bitcoin portfolio towards his bitcoin target. The low income earner wouldn't be able to have other investment and bitcoin investment is still that can promise a high profit in the long run compared to any other investment so why not just focus on the the important one than distracting yourself.

It is when you have reached close to your bitcoin target, that if you want to invest in other investment like bond, stock, gold or real estate that you can now start that, not at the early stage of your bitcoin journey, if not you might end up not achieving your bitcoin goal.

I hope that when you mean other investment, you are not talking about buying shitcoins, along side with bitcoin. If that is what is in your head, they you are misleading yourself to the wrong way of investing because buying shitcoins are waste of time and resources. No need of that because only bitcoin is what you need and forget about any other cryptocurrency because they are the duplicate of bitcoin and they will end up disappointing you and you will regret your actions.

[Frankolala]

I understand your point relating to the risk factor of this altcoins but at a point I had to settle down and make close observation into this altcoins and I feel at some point they are worth investing into but extreme caution needs to be taken.
Just the way strategies are applied in accumulating Bitcoin that is how strategic you need to be when buying this altcoins, quote me
here.

Like stated above by @ Ruttoshi, altcoins are not worth investing, and do not think that you can outsmart the altcoin devs because they are the ones in control of the price. A newbie and someone who just started his bitcoin journey shouldn't fuck around with altcoins because they are for gamblers and not for investors. Investment is something that should exist over a long period of time and not a short term, only greedy people that are after quick profit choose altcoins instead of bitcoin, and at the end they live in regrets.

It is useless to use bitcoin accumulating strategy on altcoins because it is not bitcoin and doesn't have the potential that bitcoins has. Why will I fool myself to DCA on altcoin, that the value can turn to zero by tomorrow morning. You can buy bitcoin and continue learning and growing your investment but not altcoin because it is the opposite, and why will you invest on something that your mind will not be at rest with by taking extreme caution.

Invest wisely, however, I can't tell you what to invest your money on but newbies should stay away from altcoins and stick only to bitcoin investment because no matter how small your portfolio size is, the value of your portfolio will increase with timeline.

[Roseline492]

Even due someone is investing in Bitcoin for the short term or the long term, it is advisable the person should have a source of income so that he/she will not rely on selling his Bitcoin holding to solve his life challenges. Fomo can also make someone to sell his Bitcoin holdings because he/she invested in Bitcoin to get some profit in an estimated time but when the profit doesn't come and the price of Bitcoin dips, that person might be forced to sell off his Bitcoin even at a loss.

You're right, some Invested in bitcoin as their one and only last means for financial breakthrough and all minds are on it, what we should have done is to make sure that bitcoin Investment is not the only thing we do, we have to create time and efforts on other assets to complement each other because bitcoin may not be as this always on the bullish and we may needed to sell while the market is unfavourable at dip all because we are in need of money to carter for other things in demands.

Actually there is a saying that putting all your eggs in one basket is a very risky one because if anything should happen to the basket all the eggs are gone, so relating it to what you are saying, however you are correct because as an investor or a business man is never an ideal to have only one single investment because if anything should happen to it, you will be hit back starting from square one.

So as a bitcoin investor in as much as bitcoin is one of the best and reliable investment I will not encourage someone to have only one source because we know it takes a longer time before seeing a profits on your bitcoin investment since you are holding.
 

Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.

So perhaps having other source of income will serve as an appetizer that will take care of your daily needs while your bitcoin investment is up and running.

When I mentioned "source of income" what I meant was someone going into Bitcoin investment should have a means of survival either by having a good business or a good pay job that will allow you to freely invest in Bitcoin and also take care of your daily needs so that you will not depend in your Bitcoin investment to solve your financial issues.

It seems you guys fail to understand my point of view, if I may ask have I mention any altcoins as an alternative for investment diversification? Irrespective of our purpose on this thread which is buying and holding, is it not also advisable to have other sources of income like business that could be helping or sustaining you and your family while your Bitcoin investment keeps running?, so perhaps it seems most people doesn't really understand the word Source of income ,so we shouldn't always feel or have a perception that other source of income means investing on altcoins.

However one of the factors of forces that hamper most investors are poor planning and lack of ability to have other things that could be taking care of his needs while he keeps investing.

[JayJuanGee]

however you are correct because as an investor or a business man is never an ideal to have only one single investment because if anything should happen to it, you will be hit back starting from square one.

It is when you have reached close to your bitcoin target, that if you want to invest in other investment like bond, stock, gold or real estate that you can now start that, not at the early stage of your bitcoin journey, if not you might end up not achieving your bitcoin goal.

It seems that you have phrased this part of your response a bit too stringently Ruttoshi, and maybe an example might be necessary? 

So we are talking about someone who comes to bitcoin and to investing and they do not have any investment portfolio, and so let's say for example, they are also in their early to mid 20s and they are new to working and they have a whole lifetime ahead of them for investing (perhaps thinking 30-40 years, but hoping that if they invest well they might be able to reach fuck you status in way less of the time, and maybe even half of the time), so maybe they started investing into bitcoin around a year ago with between $50 and $150 per week into bitcoin, and every quarter they are going to reassess to look at their income and their expenses to see if they can be more aggressive in how much they invest, and so they expect that over the years from time to time, their amount invested into bitcoin will increase and so they are not exactly clear about how to apportion their target amount of BTC as compared with everything else - especially since in the very beginning all that they have is bitcoin and cash (and their cash is sub-divided into extra for monthly cashflow and emergency fund), so their first year in bitcoin, they had been multi-taskedly shoring up each of the categories, figuring out their finances and psychology, consistently buying bitcoin, consistently adding money to their cash reserves and also maybe considering that once they get their cash reserves shored up they will be able to even be more aggressive, but they are still a bit nervous about keeping too much in cash because there are expectations that in the shorter term bitcoin may well go up in the next year or two and may well not return back down to even close to these current levels.

Tentatively they are thinking that they may well start to diversify into stocks, bonds, property and commodities at some point around the time that their BTC holdings might end up being 50% to 150% of their annual income, sure it could take 2-10 years for these levels to be reached, so the beginning to diversify could end up coming earlier, and sometimes people will run into employment situations in which their employer offers some kind of a 401k investing plan that might even match employee contributions, which surely could cause distractions in terms of whether someone should invest into the employer plan and how much and whether that should take away from bitcoin investments, and it could even be the case that the employer plan might ONLY match the first 5% but a person could get tax free contributions up to a pretty high level of their income maybe even if they were to put 20% of their income into such plan it would be tax free, so it could be tempting to invest in such, even though maybe there is no justification to invest into such plan beyond the level of the employer match.. So if such person has 5% going into a retirement plan (that presumptively currently does not have any bitcoin-related options), then it might become quite tough to muster up another 5-10% to put into bitcoin.. which might be the $50-$150 per week or the desire to put more into bitcoin because they are distracted.. and perhaps rightfully so... because matching contributions are quite rational investments.

So if we consider that the person does not have any kind of other investing options, then concerns about when to start diversifying still are likely going to come up way before reaching full fuck you status (which might be 20-30 years worth of income), and if it comes after a few years, there still may not be any reason to exclusively do one or the other, and there could be reasons to split the income and continue to buy bitcoin while adding on some other investments, such as equities, properties, bonds and/or commodities... These are not easy balances, and they likely are not exclusive and they likely have transitional periods in which more than one investment might start to be made once a bitcoin balance starts to become a lot larger but still might be far from it's longer term target levels but large enough to trigger concerns about having too much invested into ONLY one asset... and surely not referring to investing into shitcoins unless the investment amount is less tha 10% of your bitcoin stash.. and personally my shitcoins are way less than 1% of my bitcoin stash... so I am more averse to shitcoins than a lot of other people, even though I can see how some folks might get tempted into shitcoins and could allow for a fairly generous amount to go to shitcoins, but they need to control themselves because they probably should not be investing at all into shitcoins, but if they at least set limits, then they will at least limit the damage and hopefully they are not spending a whole lot of time thinking about their shitcoins either. especially if the shitcoins are a smaller amount, it should logically justify hardly spending any time thinking about them, either.

It seems you guys fail to understand my point of view, if I may ask have I mention any altcoins as an alternative for investment diversification? Irrespective of our purpose on this thread which is buying and holding, is it not also advisable to have other sources of income like business that could be helping or sustaining you and your family while your Bitcoin investment keeps running?, so perhaps it seems most people doesn't really understand the word Source of income ,so we shouldn't always feel or have a perception that other source of income means investing on altcoins.

However one of the factors of forces that hamper most investors are poor planning and lack of ability to have other things that could be taking care of his needs while he keeps investing.

We had already talked about the sources of income matter in terms of not always being practical, and you are likely not saying anything wrong when there could be benefits from having various extra sources of income, yet at the same time, you are not saying anything that is absolutely necessary, because there are some people who make really good money with ONLY one source of income.. and sometimes it is just NOT practical and/or justifiable to be pursuing other sources of income when in an employment situation that is quite lucrative and pretty much covers everything.  Sure they could lose that source of income, but if it is a relatively high source of income that more than covers all expenses (plus some), then there can be ways to save a lot of income in case that main (perhaps ONLY) income source dries up.

Let's say someone makes around $6k per month^**, but his expenses are ONLY $3k, so he has $3k left over.. He might not need any other sources of income, but he might need to shore up some money in case something happens with his job so that he has a savings and/or investing cushion.  Of course, if the same person were to have his income get cut in half or maybe due to inflation, all of his expenses doubled, then that same person may well have to figure out some ways to cut expenses.

Part of my point is that there can be a lot of variations in regards to whether anyone needs to supplement their income or to have the other kinds of cashflows, and surely if anyone is not sure about how solid his/her cashflow is, or if there might be some ways that the current income is not covering all expenses and investment desires, then there might be ways to get other cashflows, even though some employment might not really allow having other jobs, and maybe there could even be time constraints to figure out how to muster up some other income and if someone is already earning $6k per month, it might not seem worth their time to be engaging in activities to supplement their income when that activity might ONLY end up adding $500 to $1k per month and it is too stressful to try to carry out.. even though surely, there could be situations in which it is good to have that back up income, depending partly on how costly it might be to actually get that extra income.

**By the way, don't get worked up about the seemingly high amounts that I am using for these examples, perhaps in a kind of western context, and you can reduce the amounts by 90% if that would help you to better relate to the amounts that I am using.

[Mayor of ogba]

Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.

I understand your point relating to the risk factor of this altcoins but at a point I had to settle down and make close observation into this altcoins and I feel at some point they are worth investing into but extreme caution needs to be taken.
Just the way strategies are applied in accumulating Bitcoin that is how strategic you need to be when buying this altcoins, quote me
here  Not for a long term hold.

Altcoins are most a pump and dump coin, we know after making waves and all that it must surely dump and very difficult to see any altcoins bounce back so why can't I venture into the market at a very short period of time might be weeks and earn that profit when it's pump and before it's dump I sell.

Bitcoin is the ultimate and no other currency stands a chance but considering the fact that just with little investment in altcoins you can make profits from it within a short period of time and still add those profits into my Bitcoin portfolio.
Altcoins are risky? Yes. Bitcoin is risky? No. That is one difference between them considering the risk factor

This is one of the reasons why you should not invest your funds in altcoins because they are pump-and-dump coins that can not deliver what they promise to their investors. Most altcoins are a scam after taking investors' funds they will rug-pull the coin and run away with investors' money. With Bitcoin, you will not experience all these problems, and your investment in Bitcoin will be safe, all you need is to buy Bitcoin with a DCA strategy and Bitcoin always recovers its price.

[Lida93]

Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.

I understand your point relating to the risk factor of this altcoins but at a point I had to settle down and make close observation into this altcoins and I feel at some point they are worth investing into but extreme caution needs to be taken.
Just the way strategies are applied in accumulating Bitcoin that is how strategic you need to be when buying this altcoins, quote me
here  Not for a long term hold.

Altcoins are most a pump and dump coin, we know after making waves and all that it must surely dump and very difficult to see any altcoins bounce back so why can't I venture into the market at a very short period of time might be weeks and earn that profit when it's pump and before it's dump I sell.

Bitcoin is the ultimate and no other currency stands a chance but considering the fact that just with little investment in altcoins you can make profits from it within a short period of time and still add those profits into my Bitcoin portfolio.
Altcoins are risky? Yes. Bitcoin is risky? No. That is one difference between them considering the risk factor

This is one of the reasons why you should not invest your funds in altcoins because they are pump-and-dump coins that can not deliver what they promise to their investors. Most altcoins are a scam after taking investors' funds they will rug-pull the coin and run away with investors' money. With Bitcoin, you will not experience all these problems, and your investment in Bitcoin will be safe, all you need is to buy Bitcoin with a DCA strategy and Bitcoin always recovers its price.

The word investment doesn't apply literally to altcoins as they are not viable and reliable for long term plan. Altcoins are liken to gambling, so in my opinion it's better for anyone to use the money he's planning on investing in an altcoin to rather use it for actual gambling in a casino, in that case you are conscious that you are now gambling with your funds so it's a 50-50 chance of loss or profit if your lucky.

As the bullrun is getting closer we shouldn't be taken aback seeing some altcoins doing better all in disguise only to carpet flat after many would have innocent invested their money. I bet that many of the altcoins prices won't be rising along with bitcoin when the bullrun eventually kick start, they rather be doing the opposite. I rather be doing my little DCA holding strategy with bitcoin  with the little % from my monthly income while waiting for the bullrun, it better to partake in it with the little you can  than sitting on the fence.

[Winterfrost]

however you are correct because as an investor or a business man is never an ideal to have only one single investment because if anything should happen to it, you will be hit back starting from square one.

It is when you have reached close to your bitcoin target, that if you want to invest in other investment like bond, stock, gold or real estate that you can now start that, not at the early stage of your bitcoin journey, if not you might end up not achieving your bitcoin goal.

It seems that you have phrased this part of your response a bit too stringently Ruttoshi, and maybe an example might be necessary?  

So we are talking about someone who comes to bitcoin and to investing and they do not have any investment portfolio, and so let's say for example, they are also in their early to mid 20s and they are new to working and they have a whole lifetime ahead of them for investing (perhaps thinking 30-40 years, but hoping that if they invest well they might be able to reach fuck you status in way less of the time, and maybe even half of the time), so maybe they started investing into bitcoin around a year ago with between $50 and $150 per week into bitcoin, and every quarter they are going to reassess to look at their income and their expenses to see if they can be more aggressive in how much they invest, and so they expect that over the years from time to time, their amount invested into bitcoin will increase and so they are not exactly clear about how to apportion their target amount of BTC as compared with everything else - especially since in the very beginning all that they have is bitcoin and cash (and their cash is sub-divided into extra for monthly cashflow and emergency fund), so their first year in bitcoin, they had been multi-taskedly shoring up each of the categories, figuring out their finances and psychology, consistently buying bitcoin, consistently adding money to their cash reserves and also maybe considering that once they get their cash reserves shored up they will be able to even be more aggressive, but they are still a bit nervous about keeping too much in cash because there are expectations that in the shorter term bitcoin may well go up in the next year or two and may well not return back down to even close to these current levels.

Tentatively they are thinking that they may well start to diversify into stocks, bonds, property and commodities at some point around the time that their BTC holdings might end up being 50% to 150% of their annual income, sure it could take 2-10 years for these levels to be reached, so the beginning to diversify could end up coming earlier, and sometimes people will run into employment situations in which their employer offers some kind of a 401k investing plan that might even match employee contributions, which surely could cause distractions in terms of whether someone should invest into the employer plan and how much and whether that should take away from bitcoin investments, and it could even be the case that the employer plan might ONLY match the first 5% but a person could get tax free contributions up to a pretty high level of their income maybe even if they were to put 20% of their income into such plan it would be tax free, so it could be tempting to invest in such, even though maybe there is no justification to invest into such plan beyond the level of the employer match.. So if such person has 5% going into a retirement plan (that presumptively currently does not have any bitcoin-related options), then it might become quite tough to muster up another 5-10% to put into bitcoin.. which might be the $50-$150 per week or the desire to put more into bitcoin because they are distracted.. and perhaps rightfully so... because matching contributions are quite rational investments.

So if we consider that the person does not have any kind of other investing options, then concerns about when to start diversifying still are likely going to come up way before reaching full fuck you status (which might be 20-30 years worth of income), and if it comes after a few years, there still may not be any reason to exclusively do one or the other, and there could be reasons to split the income and continue to buy bitcoin while adding on some other investments, such as equities, properties, bonds and/or commodities... These are not easy balances, and they likely are not exclusive and they likely have transitional periods in which more than one investment might start to be made once a bitcoin balance starts to become a lot larger but still might be far from it's longer term target levels but large enough to trigger concerns about having too much invested into ONLY one asset... and surely not referring to investing into shitcoins unless the investment amount is less tha 10% of your bitcoin stash.. and personally my shitcoins are way less than 1% of my bitcoin stash... so I am more averse to shitcoins than a lot of other people, even though I can see how some folks might get tempted into shitcoins and could allow for a fairly generous amount to go to shitcoins, but they need to control themselves because they probably should not be investing at all into shitcoins, but if they at least set limits, then they will at least limit the damage and hopefully they are not spending a whole lot of time thinking about their shitcoins either. especially if the shitcoins are a smaller amount, it should logically justify hardly spending any time thinking about them, either.

Diversification is a safety net when it comes to investment. At a certain point, there may be a need for an investor to delve into something that is certain to provide a faster return, perhaps in a short period of time. This could be an investment outside the cryptocurrency space. Some reasons for this include acquiring more money within this period so that they can aggressively buy Bitcoin and achieve their Bitcoin goals.

Definitely, on the process of growing your Bitcoin portfolio, there could be opportunities like a business or a higher-paying job that could come along, and all of this can help increase the amount you put into Bitcoin weekly. For instance, if you currently allocate $150 to Bitcoin every week and have the chance to start earning more than you currently do, you could increase your weekly allocation to $200 to aggressively buy more Bitcoin. Additionally, if you see a good business opportunity, you may temporarily pause your Bitcoin purchases to invest in the business. Once you start making gains from the business, you could aggressively buy Bitcoin using some of the profits from the business and your income. This way, you may now be buying Bitcoin using your income ($200) and from your business gains ($50) weekly, helping you reach the level of Bitcoin portfolio you desire.

[Salahmu]

Diversification is a safety net when it comes to investment. At a certain point, there may be a need for an investor to delve into something that is certain to provide a faster return, perhaps in a short period of time. This could be an investment outside the cryptocurrency space. Some reasons for this include acquiring more money within this period so that they can aggressively buy Bitcoin and achieve their Bitcoin goals.

Venturing into something or business that could help you in times of finance in other to boost your accumulation level of Bitcoin is actually a good plan but however if your intentions of venturing into those business is for you to use all the funds to aggressively invest on Bitcoin I would say is not a right decision if you are not really sure of the cash flow of the business because so many investors has gone that line but find it difficult later.

Because most of the people who invest aggressively are mostly those investors who have the fear if missing out, so they always make sure they invest all they have in other not to miss any opportunity, so sometimes it could really affect the investor when a serious need will arise and there is know means of solving it and it will becomes a challenge, so I would just advise you not to invest aggressively but instead you could invest the amount you know will not affect your other need.

[Pi-network314159]

Mate, are you trying to say that we should also invest in altcoin? So that our eggs will not only be on Bitcoin investment. It is never good to invest in altcoin because you are not the dev of the altcoin, and if anything wrong happens at the back end you will not know. Investing in altcoin is just like someone playing gambling and you will lose your money if you are investing in altcoin because altcoin is a pump-and-dump token, that is after your money. As far as crypto is concerned, there is nothing like Bitcoin because you will not only make a profit from your Bitcoin investment, but Bitcoin gives you total control over your money, no third party will decide how you will use your Bitcoin, and you can also use your Bitcoin to send money to your family members staying abroad.

I understand your point relating to the risk factor of this altcoins but at a point I had to settle down and make close observation into this altcoins and I feel at some point they are worth investing into but extreme caution needs to be taken.
Just the way strategies are applied in accumulating Bitcoin that is how strategic you need to be when buying this altcoins, quote me
here  Not for a long term hold.

Altcoins are most a pump and dump coin, we know after making waves and all that it must surely dump and very difficult to see any altcoins bounce back so why can't I venture into the market at a very short period of time might be weeks and earn that profit when it's pump and before it's dump I sell.

Bitcoin is the ultimate and no other currency stands a chance but considering the fact that just with little investment in altcoins you can make profits from it within a short period of time and still add those profits into my Bitcoin portfolio.
Altcoins are risky? Yes. Bitcoin is risky? No. That is one difference between them considering the risk factor

This is one of the reasons why you should not invest your funds in altcoins because they are pump-and-dump coins that can not deliver what they promise to their investors. Most altcoins are a scam after taking investors' funds they will rug-pull the coin and run away with investors' money. With Bitcoin, you will not experience all these problems, and your investment in Bitcoin will be safe, all you need is to buy Bitcoin with a DCA strategy and Bitcoin always recovers its price.

The word investment doesn't apply literally to altcoins as they are not viable and reliable for long term plan. Altcoins are liken to gambling, so in my opinion it's better for anyone to use the money he's planning on investing in an altcoin to rather use it for actual gambling in a casino, in that case you are conscious that you are now gambling with your funds so it's a 50-50 chance of loss or profit if your lucky.

As the bullrun is getting closer we shouldn't be taken aback seeing some altcoins doing better all in disguise only to carpet flat after many would have innocent invested their money. I bet that many of the altcoins prices won't be rising along with bitcoin when the bullrun eventually kick start, they rather be doing the opposite. I rather be doing my little DCA holding strategy with bitcoin  with the little % from my monthly income while waiting for the bullrun, it better to partake in it with the little you can  than sitting on the fence.

I don't think gambling is the best option compeard to altcoin investment. We all know that altcoin are alternative to bitcoin and has a lesser attraction compeard to bitcoin but that doesn't mean altcoin should be totally neglected. We always talk about diversification of potfolio. What do you really think about it? Because i see it as investing in different altcoin apart from the usual BTC . Fake altcoin project looming around Crypto market might create a bad inpression on altcoin, but there are some altcoin that has an investment value. Let's take for example etherium. It has stand as next of kin to bitcoin and has an investment value. It better off to invest in etherium or BNB than gambling your money, because there is no volatility on gambling. But in Crypto currency if you invest and loose, there is a tendency for you to regain back your lost when the market is green. But in gambling if it fails, that's just the end. When speculating on altcoins be specific. Like saying I rather gamble with my money Dan investing in meme or fomo.

[Litzki1990]

Diversification is a safety net when it comes to investment. At a certain point, there may be a need for an investor to delve into something that is certain to provide a faster return, perhaps in a short period of time. This could be an investment outside the cryptocurrency space. Some reasons for this include acquiring more money within this period so that they can aggressively buy Bitcoin and achieve their Bitcoin goals.

Venturing into something or business that could help you in times of finance in other to boost your accumulation level of Bitcoin is actually a good plan but however if your intentions of venturing into those business is for you to use all the funds to aggressively invest on Bitcoin I would say is not a right decision if you are not really sure of the cash flow of the business because so many investors has gone that line but find it difficult later.

Because most of the people who invest aggressively are mostly those investors who have the fear if missing out, so they always make sure they invest all they have in other not to miss any opportunity, so sometimes it could really affect the investor when a serious need will arise and there is know means of solving it and it will becomes a challenge, so I would just advise you not to invest aggressively but instead you could invest the amount you know will not affect your other need.

There is no point in using all your money to invest in Bitcoin because there is no fixed level of investment in Bitcoin. A person can invest any amount of money in Bitcoin at any time. Since Bitcoin has the advantage of having a minimum amount of money to invest, an investor can invest in Bitcoin whenever he wants or feels he has the money to invest. There are many investors who keep putting money in one place to invest in Bitcoin but it is better if they keep investing in Bitcoin instead of putting money in one place. An investor does not need to invest such amount of money that he has to sell his investment later. 

If an investor wants to invest based on his monthly salary then he can continue his investment and he can make his investment long. If a person has a monthly salary of 300 dollars then from there he may spend 150 dollars for family management and out of the remaining 150 dollars he may have some savings and if he wants to invest the remaining money in Bitcoin. As long as an investor has a job, he can make this investment consistently and hold that investment. 

Just as a bee collects honey little by little and is able to accumulate a large amount of honey in its hive at a time, so an investor who invests little by little consistently will see his investment grow over time. 

In the initial stage an investor has to start investing later on he has to be consistent in that investment and later the investor has to make sure to hold the investment for a long time only then an investor can reach his goal.

[G_Besar]

This is one of the reasons why you should not invest your funds in altcoins because they are pump-and-dump coins that can not deliver what they promise to their investors. Most altcoins are a scam after taking investors' funds they will rug-pull the coin and run away with investors' money. With Bitcoin, you will not experience all these problems, and your investment in Bitcoin will be safe, all you need is to buy Bitcoin with a DCA strategy and Bitcoin always recovers its price.

The advice you express is quite appropriate for many people to know, especially newbies who still like altcoins. Because maybe they still don't know how safe it is to invest in Bitcoin with the DCA strategy which is still widely used by investors today, so we need to provide that kind of understanding to those who still like altcoins so they can consider Bitcoin more when they want to invest, even though we not telling them to forget about altcoins. It's just that they can at least limit themselves to altcoins which frankly will not be as useful as Bitcoin which has been proven by many investors from the past until now.

[NewRanger]

As the bullrun is getting closer we shouldn't be taken aback seeing some altcoins doing better all in disguise only to carpet flat after many would have innocent invested their money. I bet that many of the altcoins prices won't be rising along with bitcoin when the bullrun eventually kick start, they rather be doing the opposite. I rather be doing my little DCA holding strategy with bitcoin  with the little % from my monthly income while waiting for the bullrun, it better to partake in it with the little you can  than sitting on the fence.

If you are focused on BTC, I think it's better not to think about the outside anymore. Just BTC and search quickly to collect as much as possible in various ways. January 2024 is only a month and 6 days away and the issue of increasing BTC is also being discussed very intensively even in the midst of these uncertain economic conditions.