Bitcoin Forum
June 11, 2024, 02:22:04 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 ... 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 [421] 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 »
  Print  
Author Topic: Buy Bitcoin, and HODL!  (Read 85979 times)
JayJuanGee
Legendary
*
Online Online

Activity: 3738
Merit: 10381


Self-Custody is a right. Say no to"Non-custodial"


View Profile
May 14, 2024, 10:37:37 PM
 #8401

What I understood by buying aggressive and I practice is it takes gradual process not just going all into at once, I will definitely increase my accumulation amount as time goes on at my comfortable zone cause there’s no law that state dca strategy must go with a fixed amount rather you can increase anytime you have the amount.

I think that the general idea is that DCA is a certain amount of your discretionary income, and the more aggressive that you are with it, then the more likely that it is going to vary every month (even if you are buying weekly) because if you are trying to invest close to 100% of your discretionary income into bitcoin, then there is likely going to be some variance in the amounts.

The lower the percentage of the DCA amount within your discretionary income, then the more likely that you can establish it as a fixed amount, so then the rest of your discretionary income will still give you various other kinds of flexibilities in terms of either goods/services that you would like to buy or if you might be just holding some of the remaining part of that discretionary income in terms of having a higher float or building more reserves - that also might have some assigned purposes.

From my understanding DCA does not have to have any kind of exact fixed amount, even though it is based on some level of regularity in regards to when your income comes in and you consider parts of it to be discretionary to be able to invest into bitcoin. 

I think that a lot of people like to consider DCA as a fixed dollar amount, and there is nothing wrong with that, especially since there can be a lot of conveniences in terms fo having a fixed dollar amount, whether weekly or some other period of time... set it and forget it kinds of ideas... though I also do not like automated DCA, even though sometimes automated could be way more convenient for people so they do not have to remember to do it, and they may well be busy at certain periods and forget to do their DCA manually.

These points kind of make sense, even though your numbers do not seem very realistic in terms of monthly expenses for anyone being ONLY 20% of their income, unless the person is in a more rich category.. so for example a person might be living in a place in which his expenses are only a few hundred a month, and his salary is $1k to $2k per month, but yeah, maybe you guys need to describe how you are coming up with examples of ONLY having expenses of $20 per month and how that might be realistic and also how the same guy might have an income of between $60 to $100 per month?  Sure there could be some situations of informal economy and maybe you live on a farm and you raise your own food or you trade your food for someone else's food and maybe you perform labor in order to live in your house, and you don't have to pay electricity because it is free or it does not exist... but still the numbers see strange, even though surely I know some folks do have real low incomes.. yet are we even being realistic?
$20 per month is obviously a random value Grin
Sure it wasn't  realistic....
I was just only following the previous example so not making a twist i did use same values just for the exp.
But to be Frank we still have some workers over here earning below $100 monthly which is why our government sucks Tongue

I don't have any problem with the idea that some folks earn very low amounts, such as $100 per month or maybe even lower, yet I have some difficulties imagining scenarios in which persons at those same levels would be ready, willing and able to invest 80% or whatever into bitcoin.. That hardly makes any sense absent some further explanation, as I suggested some explanations in which a person could have some ways of getting food through farming or services or otherwise having various expenses paid for in terms of lodging - but at the same time, even if some folks might have some really strange circumstances, those do not make very good examples, unless we explain the circumstances, and another thing that I already mentioned several times is that a lot of people (whether poor or not) have really difficult times even investing and/or saving 10% or more of their income, so when we are coming up with examples that are presuming sustainable abilities to invest even greater than 30%, then I am going to question those circumstances, including questioning if they are either sustainable, long term or maybe just trying to play the wave by gambling and using money that you cannot afford to set aside for 4-10 years or longer, which are the kinds of longer term strategies that we are aiming to discuss in a thread like this... . .

[edited out]
Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.

Even those kinds of numbers of being able to have 40% discretionary income come off as a bit unrealistic in terms of typical situations that people find themselves in, and you might even be using the term emergency fund wrong, since you seem to be referring to having an extra amount of money as a kind of float in the month to cover unexpected other expenses that might come up.  An emergency fund is generally something that is built up and would likely be a minimum of 3 months, and it should hardly ever be touched since the guy should have other funds that are available so that he never has to touch his emergency fund absent an actual emergency.. and so the size and the maintenance of the emergency fund becomes ever more important with any kind of volatile investment such as bitcoin, since we likely should be investing into bitcoin for the long term of 4-10 years or longer, so we don't want to be getting ourselves into any kind of situation in which we have to touch any of our bitcoin during that period for any reason, except our complete own choosing.. and based on various aspects of our investment thesis playing out or BTC levels accumulating to sufficiently high levels that we are moving away from accumulation and into other kinds of stages (practices).

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
Ambatman
Full Member
***
Offline Offline

Activity: 322
Merit: 166


★Bitvest.io★ Play Plinko or Invest!


View Profile WWW
May 14, 2024, 10:45:24 PM
 #8402

Quote
Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.
Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.
Quote
I think an income of $50 per month is of course quite a small income, in fact no company pays its employees $50 per month. I don't think it's too much of a burden for people to invest $10 per week because that's a nominal amount that is easily within everyone's reach, but yes, it comes down to each individual
I guess this should be in your country and based on what you believe is nominal as investment.
A person receiving a huge income doesn't necessarily mean they have much idle funds for investment
There are individuals choked up with expenses and responsibilities that is quite hard investing more than 10% of their income.
The best is investing as a capacity leads
Buy with spare funds and hide the balance
It would shock you one day the amount you would find there when you go finally check.

Quote
[Off] Not saying the minimum wage or salary should be increased but there's alot attached to the government.... and this shouldn't be discussed here as it's completely  off topic to the thread.
I guess it is.
The differences existing when it comes to humans is the reason no Economics theory are proposed without constancy
What works here won't work there.

Popkon6
Sr. Member
****
Offline Offline

Activity: 616
Merit: 326



View Profile
May 14, 2024, 11:18:42 PM
 #8403

I don't quit understand the point you are trying to make because it seems you don't understand much about the use of DCA because from your Statment you seem to presume DCA strategy is only a method that requires huge amount of money before utilizing it because I wonder why you would only use DCA strategy only when your salary is normalized, however I want to inform you that the use of DCA strategy doesn't only involves an investor that has a huge capital but also someone who doesn't have much funds because their is no discrimination in terms of DCA usage.

Perhaps even if you are earning $50 in a monthly basis you can still be consistent on either weekly or monthly accumulation of Bitcoin, for instance since your total monthly funds is $50 you can strategize your accumulation plans to monthly basis using $10 because going above that can easily affect your investment but however if on the process your salary increases or having more other source of income you can then bring it down to a weekly accumulation.
In fact, DCA is very practical and easy for beginners to apply, especially in long-term investments. In DCA we don't need technical analysis because we only execute it when the time comes, for example once a week. If we invest in a year we make bitcoin purchases 48 times a year so we can imagine that we will find the lowest price which may be difficult to do by other means other than DCA. So, if you are determined for the long term, then apply DCA in the investment you make.

I think an income of $50 per month is of course quite a small income, in fact no company pays its employees $50 per month. I don't think it's too much of a burden for people to invest $10 per week because that's a nominal amount that is easily within everyone's reach, but yes, it comes down to each individual. If they are addicted to gambling then whether it is small or large, the income they earn is of course not enough. So it is not surprising that gamblers fail to invest in every available opportunity.

A person who spends more than what a person earns can never invest, but such a person can invest if he cuts out unnecessary expenses and controls the basic expenses of the family and with the remaining money he can invest. 
So there are a lot of people who are wasteful, because if a person invests $10 a week, he can make the most profit. Because his planning will be better and if he invests for long term he will accumulate more wealth. Many people waste their earned money on bad drugs, so I think it is possible for any person to control $10.

███████████████████████████████▀▀▀▀
███████████████████████████████
█████████▀▀▀▀▀█▀█▀▀▀▀▀█████████
███▄▀▀▀   ▄▄▄▄   ▄▄▄▄   ▀▀▀▄███
███████▀▀▀████▌ ▐████▀▀▀███████
█████▀███▀█▀██▌ ▐██▀█▀███▀█████
███████▀▄▀▄███▌ ▐███▄▀▄▀███████
█████▄██▄██▄██   ██▄██▄██▄█████
███████▄▄▄████   ████▄▄▄███████
██████████▀▀▀▀   ▀▀▀▀██████████
██████████▄▄▄▄▄▄▄▄▄▄▄██████████
███████████████████████████████
███████████████████████████████▄▄▄▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
TRUST DICE
.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀█











▄▄▄█
█▀▀▀











█▄▄▄
#1 RATED CRYPTO
CASINO IN THE WORLD
██ ██ ██ ██ █Trustpilot
▀▀▀█











▄▄▄█
▄█████████████████████████████
██████████████████▀▀█████▀▀████
█████████████████▀█████████▀███
██████████████████████████████
███████████████████████████▄███
█████████████████████████▄▄████
███████████████████████████████
█████████████░░░███████████████
███████████░░░█████████████████
█████████░░████████████████████
█████░░░██████████████████████
███░░█████████████████████████
▀░░░█████████████████████████▀
█▀▀▀











█▄▄▄
▀▀▀█











▄▄▄█
adultcrypto
Sr. Member
****
Offline Offline

Activity: 350
Merit: 271



View Profile
May 14, 2024, 11:29:11 PM
 #8404

Quote
Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.
Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.
Buying daily could be a burden and therefore difficult to implement. If the purchase is made on centralized exchanges, consider the withdrawal fees which is expected to be made daily, that a lone can become a big amount of money when you check it in a month time of daily withdrawals. Remember that it is not advisable to store your asset in CEX due to the risk associated to them. That means the only option will be to withdrawal daily or at least regularly. Similarly, if buying through decentralized exchanges like Bisq, there is still the transaction fees which will not go away.

Apart from the withdrawal and transaction fees,  buying daily will be time consuming and there is the tendency of getting tired after some times.

Therefore, I am not supporting daily DCA. The weekly or monthly DCA is fine and gives one enough space to plan well in terms of the finance and time needed to implement the plans.



.
Duelbits
DUELBITS
FANTASY
SPORTS
████▄▄█████▄▄
░▄████
███████████▄
▐███
███████████████▄
███
████████████████
███
████████████████▌
███
██████████████████
████████████████▀▀▀
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
.
▬▬
VS
▬▬
████▄▄▄█████▄▄▄
░▄████████████████▄
▐██████████████████▄
████████████████████
████████████████████▌
█████████████████████
███████████████████
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
///  PLAY FOR FREE  ///
WIN FOR REAL
█████
██
██
██
██
██
██
██
██
██
██
██
█████
██████████████████████████████████████████████████████
.
PLAY NOW
.
██████████████████████████████████████████████████████
█████
██
██
██
██
██
██
██
██
██
██
██
█████
Tmoonz
Full Member
***
Offline Offline

Activity: 182
Merit: 144



View Profile
May 15, 2024, 12:18:23 AM
Last edit: May 15, 2024, 05:05:40 AM by Tmoonz
Merited by JayJuanGee (1)
 #8405

Quote
Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.
Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.
Buying daily could be a burden and therefore difficult to implement. If the purchase is made on centralized exchanges, consider the withdrawal fees which is expected to be made daily, that a lone can become a big amount of money when you check it in a month time of daily withdrawals. Remember that it is not advisable to store your asset in CEX due to the risk associated to them. That means the only option will be to withdrawal daily or at least regularly. Similarly, if buying through decentralized exchanges like Bisq, there is still the transaction fees which will not go away.

Apart from the withdrawal and transaction fees,  buying daily will be time consuming and there is the tendency of getting tired after some times.

Therefore, I am not supporting daily DCA. The weekly or monthly DCA is fine and gives one enough space to plan well in terms of the finance and time needed to implement the plans.




For me I will consider the logic to be, invest when the money is readily available for investment, it doesn't really matters when, although mostly the monthly or weekly dca has been prioritize but which ever it may be it is left for an investor to make that sole decision in terms his level of preparedness generally. The readiness of the investor to make purchases of Bitcoin is what is most important but having a long term plan might not  necessarily need buying on daily basis . And there should be a certain level of comfort at whatever may be his choice of of when to dcaing.

Justbillywitt
Full Member
***
Offline Offline

Activity: 266
Merit: 234



View Profile
May 15, 2024, 07:07:02 AM
 #8406

I don't quit understand the point you are trying to make because it seems you don't understand much about the use of DCA because from your Statment you seem to presume DCA strategy is only a method that requires huge amount of money before utilizing it because I wonder why you would only use DCA strategy only when your salary is normalized, however I want to inform you that the use of DCA strategy doesn't only involves an investor that has a huge capital but also someone who doesn't have much funds because their is no discrimination in terms of DCA usage.

Perhaps even if you are earning $50 in a monthly basis you can still be consistent on either weekly or monthly accumulation of Bitcoin, for instance since your total monthly funds is $50 you can strategize your accumulation plans to monthly basis using $10 because going above that can easily affect your investment but however if on the process your salary increases or having more other source of income you can then bring it down to a weekly accumulation.
In fact, DCA is very practical and easy for beginners to apply, especially in long-term investments. In DCA we don't need technical analysis because we only execute it when the time comes, for example once a week. If we invest in a year we make bitcoin purchases 48 times a year so we can imagine that we will find the lowest price which may be difficult to do by other means other than DCA. So, if you are determined for the long term, then apply DCA in the investment you make.

I think an income of $50 per month is of course quite a small income, in fact no company pays its employees $50 per month.
My brother there are millions of companies that pay their staffs a monthly salary of $50, $40, $30, $20 in Africa, so when I saw your post about no company can pay it's worker $50 that it's too small, it's possible you are speaking from how things are working in your region.

Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.

Velemir Sava
Member
**
Offline Offline

Activity: 293
Merit: 28

Enterapp


View Profile
May 15, 2024, 08:38:12 AM
 #8407

Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.

▀███████▄            enterapp.io       |       CRYPTO WEB3 NEOBANK            ▄███████▀
                            PRE-SALE IS LIVE                           
▀█▄ ▀█▄ ▀█▄        D E C E N T R A L I Z E D   B A N K I N G        ▄█▀ ▄█▀ ▄█▀
ultrloa
Legendary
*
Offline Offline

Activity: 2786
Merit: 1236



View Profile WWW
May 15, 2024, 10:13:59 AM
Merited by JayJuanGee (1)
 #8408

Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.

This is unfortunate reality happening on some parts of the world and that is the real problem why other people can't afford to invest on bitcoin because they think its expensive for them to buy this asset since their salary is to small to use this for investment especially if they have family to feed.

That's why if people really want to get out on poverty then they must learn some skills which they can use online so it can possibly give them some side incomes which they can use for their investment. People really just need to be eager on what they want to do so that they could make all their plans succeed and make their dream investments come into reality. There's never late word this and they could start their investment whenever they want especially if they are financially settled since they already gain from multiple ventures they do in real life also in online.

If they want to test the waters they could start at $10 and its up for them to decide if they want to increase their investment base on what they earn for this week or month. BTC investment offers wide opportunity to its holders so people just need to be eager to learn a lot of information about it so they could get a solid foundation of knowledge so they can do right decisions on their accumulation stage.

R


▀▀▀▀▀▀▀██████▄▄
████████████████
▀▀▀▀█████▀▀▀█████
████████▌███▐████
▄▄▄▄█████▄▄▄█████
████████████████
▄▄▄▄▄▄▄██████▀▀
LLBIT|
4,000+ GAMES
███████████████████
██████████▀▄▀▀▀████
████████▀▄▀██░░░███
██████▀▄███▄▀█▄▄▄██
███▀▀▀▀▀▀█▀▀▀▀▀▀███
██░░░░░░░░█░░░░░░██
██▄░░░░░░░█░░░░░▄██
███▄░░░░▄█▄▄▄▄▄████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█████████
▀████████
░░▀██████
░░░░▀████
░░░░░░███
▄░░░░░███
▀█▄▄▄████
░░▀▀█████
▀▀▀▀▀▀▀▀▀
█████████
░░░▀▀████
██▄▄▀░███
█░░█▄░░██
░████▀▀██
█░░█▀░░██
██▀▀▄░███
░░░▄▄████
▀▀▀▀▀▀▀▀▀
|
██░░░░░░░░░░░░░░░░░░░░░░██
▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀
▄▄███░░░░░░░░░░░░░░███▄▄
▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀
▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄
█░▄▄▄██████▄▄▄░█
█░▀▀████████▀▀░█
█░█▀▄▄▄▄▄▄▄▄██░█
█░█▀████████░█
█░█░██████░█
▀▄▀▄███▀▄▀
▄▀▄
▀▄▄▄▄▀▄▀▄
██▀░░░░░░░░▀██
||.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀
███▀▄▀█████████████████▀▄▀
█████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀
███████▀▄▀██████░█▄▄▄▄▄▄▄▄
█████████▀▄▄░███▄▄▄▄▄▄░▄▀
███████████░███████▀▄▀
███████████░██▀▄▄▄▄▀
███████████░▀▄▀
████████████▄▀
███████████
▄▄███████▄▄
▄████▀▀▀▀▀▀▀████▄
▄███▀▄▄███████▄▄▀███▄
▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄
▄██▄██████▀████░███▄██▄
███░████████▀██░████░███
███░████░█▄████▀░████░███
███░████░███▄████████░███
▀██▄▀███░█████▄█████▀▄██▀
▀██▄▀█▄▄▄██████▄██▀▄██▀
▀███▄▀▀███████▀▀▄███▀
▀████▄▄▄▄▄▄▄████▀
▀▀███████▀▀
OFFICIAL PARTNERSHIP
FAZE CLAN
SSC NAPOLI
|
CageMabok
Hero Member
*****
Offline Offline

Activity: 994
Merit: 820



View Profile
May 15, 2024, 10:18:05 AM
Merited by JayJuanGee (1)
 #8409

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.
You have to understand that everyone must have sufficient finances first if they want to do something that is unusual for them, such as the option of investing in Bitcoin. Because if their income level is still quite low and they are only able to support themselves every month without anything more than that, I think a person like that should be able to look for other sources of income without disturbing their main source of income. So that he can immediately do his desire to invest in Bitcoin by buying at the dip and holding it until he really sees the profit he wants.

█████████████████████████
██
█████▀▀███████▀▀███████
█████▀░░▄███████▄░░▀█████
██▀░░██████▀░▀████░░▀██
██▀░░▀▀▀████████████░░▀██
██░░█▄████▀▀███▀█████░░██
██░░███▄▄███████▀▀███░░██
██░░█████████████████░░██
██▄░░████▄▄██████▄▄█░░▄██
██▄░░██████▄░░████░░▄██
█████▄░░▀███▌░░▐▀░░▄█████
███████▄▄███████▄▄███████
█████████████████████████
.
.ROOBET 2.0..██████.IIIIIFASTER & SLEEKER.██████.
|

█▄█
▀█▀
████▄▄██████▄▄████
█▄███▀█░░█████░░█▀███▄█
▀█▄▄░▐█████████▌▄▄█▀
██▄▄█████████▄▄████▌
██████▄▄████████
█▀▀████████████████
██████
█████████████
██
█▀▀██████████████
▀▀▀███████████▀▀▀▀
|.
    PLAY NOW    
Mayor of ogba
Sr. Member
****
Online Online

Activity: 322
Merit: 251


★Bitvest.io★ Play Plinko or Invest!


View Profile
May 15, 2024, 10:36:30 AM
Merited by JayJuanGee (1)
 #8410

Meanwhile not all the countries that are using dollars are using are using the same dollars. We have the Canadian dollar,  Australian dollar, Zimbabwe dollar, United States dollar, and these dollars don't have same value in the stock exchange or money market. So next when make a post it will be helpful to other readers if you are more specific with your statement as it will avoid some unnecessary debate and argument.

Presumptively, unless someone specifies which kind of dollars that they are using, we are going to presume that they are talking about USD US dollars, if they are referring to dollars.. so I doubt that saying dollars is ambiguous... and surely if they are referring to some other kind of dollar, then they should clarify their reference and maybe even suggest why they might need to refer to such different currency, if it is not clear from the contents of their post.

[edited out]
From the dictionary Discretionary income is the amount of an individual's income that is left for spending, investing, or saving after paying taxes and paying for personal necessities, such as food, shelter, and clothing. Discretionary income includes money spent on luxury items, vacations, and nonessential goods and services.

So fucking what that whatever dictionary you read has some further explanations, and are you even contesting that the most basic idea of discretionary income and the way that we are talking about discretionary income in this thread has to do with figuring out the difference between your income and your expenses?

I am suggesting that you need to be way more specific, and I am even providing you with fairly straight-forward guidelines regarding how to clarify your points, and then you come up with some mumbo jumbo technical dictionary explanation that does not even mention the idea of the difference between income and expenses as being the main idea that I am trying to get you to focus upon. .but for some reason you don't believe it?  What I am saying does not make sense to you?  Do you disagree or you just want to continue to spout out vague ideas without getting into the basic starting point concepts of comparing income to expenses in order to arrive at discretionary income?

I agree with you I should have written the discretionary income in the example I gave in other to make it more understanding to people.  If after setting aside money for your expenses for that month and you have already established your emergency, reserves and float funds like you said I think you can use your Discretionary income to invest on Bitcoin and I think that way you are not over investing.

Maybe you are staring to get it?  I feel like I am repeating myself, but at least you are mentioning expenses in terms of your consideration, yet you still seem to believe that expenses are some kind of variable that is all over the place, when they usually can be established in terms of some of the expenses are fixed and other expenses are discretionary.. Some expenses can be deferred and others have to be paid right away, and surely there is variance in terms of fixed and discretionary expenses, because sometimes fixed expenses can also be deferred and frequently there will be costs involved with deferring fixed expenses., but anyhow, the punchline, as I already attempted to proclaim, several times, is to start by figuring out your income minus your expenses in order to figure out your discretionary income.. and also as I already mentioned, you may or may not already have various systems of emergency funds, reserves and cash floats that you are in the habit of maintaining, and to the extent that they might be inadequate, then they are going to be built up from your discretionary income.. which means that it is after you have already figured out your expenses and to the extent that sometimes some of the expenses can be cut and/or deferred too, which could end up affecting how well you can build up any reserve funds that you have or how much you might be wanting (or able to) invest into bitcoin, whether we are calculating monthly or weekly or some other ways of categorizing timelines to measure your discretionary income..  another term for discretionary income is disposable income.. .which largely refers to the same concept but sometimes people will talk about disposable income to refer to extra income that they have after they have accounted for their expenses.

Imo if someone is experiencing any financial situation or problem, is better to reduce their amount for accumulating for a while than stopping totally.
Edited out
You are getting it all wrong because reducing your accumulation amounts if you are having some financial challenges can never lead you into giving up an investment because if the the source of income is low and the needs are a little bit high cutting down a bit of your accumulation will actually allow you to balance, however on the contrary your narrative on or rather your mindset could lead you into trouble on your investment if you are not able to Identify when the need to adjust your accumulation amounts arises, however if I may ask for instance your normal weekly accumulation is $20 while your monthly salary is $100 but on the process your salary drops to $60 on a monthly basis and your needs has increase would you reduce your accumulation amounts to either $5 or $10 weekly? Or would you continue with your normal $20 weekly?, because for me at this points $20 weekly is actually being aggressive and could get you into trouble.
This shouldn't  be very hard actually.... all you need is increasing the time interval still you find a way to get back to your $100 and if you actually read carefully I didn't totally go against the reduction  but I wasn't totally in support with it .
Let's break it down
I am a worker, I get a monthly  salary of 100 bucks.... my DCA $20 weekly  fir total $80 monthly taking the remaining 20 bucks for expenses

why are you guys coming up with such dumb examples in which guys have an income of $100, and they are able to invest 80% into bitcoin because their monthly expenses are ONLY $20.  It hardly makes any sense.
The example is a dump way of investing in bitcoin. First, it doesn't meet up with the advice that we should invest what we can afford to lose or do without for a long time. Even if the investor doesn't want to live a comfortable life, $20 will not be enough to take care of his monthly expenses. The investor will always be worried that bitcoin shouldn't fail because he has invested most of his money in bitcoin, and dip can make the investor sell his bitcoin because there's no way out except for his bitcoin investment. He will not want to lose his money on his bitcoin investment. This example can make someone not to rebuild their emergency funds because 80% of their salary has been used to invest in bitcoin, and if there is an emergency, the investor will depend on his bitcoin investment to solve it. If you are accumulating bitcoin with the example you mentioned, please modify your bitcoin accumulation plan and reduce the allocation amount to 10% or 20% of your monthly salary so that you will have enough money left to take care of your living expenses after investing in bitcoin monthly.



BIG WINNER!
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
Roseline492
Full Member
***
Offline Offline

Activity: 308
Merit: 184



View Profile WWW
May 15, 2024, 10:45:49 AM
 #8411

Quote
Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.
Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.

That is not actually the right way to go about it because there is no way you could advise someone who is earning low to invest on a daily basis that's actually an over investment because let's take for instance he is earning $150 on a monthly basis and you advise him to invest daily and maybe he uses $5 as his accumulation amount on the daily basis and in a month we have 30 days depending on the particular month so perhaps $5*30=$150 he will spent per month which is his salary per month and that means he will be investing 100% of his monthly salary, this is actually an over aggressive investment, so perhaps I would advise you focus on weekly accumulation using $10 since you are earning $150 monthly because this will keep you away from getting in trouble during the process.

avp2306
Sr. Member
****
Offline Offline

Activity: 1022
Merit: 365



View Profile
May 15, 2024, 11:30:27 AM
 #8412

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.
You have to understand that everyone must have sufficient finances first if they want to do something that is unusual for them, such as the option of investing in Bitcoin. Because if their income level is still quite low and they are only able to support themselves every month without anything more than that, I think a person like that should be able to look for other sources of income without disturbing their main source of income. So that he can immediately do his desire to invest in Bitcoin by buying at the dip and holding it until he really sees the profit he wants.

Yes we really need if not sufficient a lot more ways to get a proper fundings since aside for taking good care of our investment there are other personal things that need to consider. For example we need to pay our bills,foods,rent if renting and other necessary stuff that needed to survive.

Plus we also need to have an emergency funds so we will have a secure future which been tackled for many times in this thread. Investors should really need a multiple source of income since if they rely on their unstable profit then maybe he can't get sufficient result. We need to maximize our time and there's lot of ways to earn hopefully people are resourceful enough to find a lot of opportunity that can give them good profits since this could give them huge convenience in future and also can make them a successful investors especially if they see a good result for their long term hodl.

▄▄███████▄▄
▄██████████████▄
▄██████████████████▄
▄████▀▀▀▀███▀▀▀▀█████▄
▄█████████████▄█▀████▄
███████████▄███████████
██████████▄█▀███████████
██████████▀████████████
▀█████▄█▀█████████████▀
▀████▄▄▄▄███▄▄▄▄████▀
▀██████████████████▀
▀███████████████▀
▀▀███████▀▀
MΞTAWIN  THE FIRST WEB3 CASINO██████
██
██
██
██
██
██
██

██

██

██

██

██████
.
 PLAY NOW 
██████
██
██
██
██
██
██
██

██

██

██

██

██████
Mayor of ogba
Sr. Member
****
Online Online

Activity: 322
Merit: 251


★Bitvest.io★ Play Plinko or Invest!


View Profile
May 15, 2024, 12:34:30 PM
 #8413

Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.
One of the benefits of accumulating bitcoin with the DCA strategy is to control your emotions, and your idea of accumulating bitcoin with the DCA strategy cannot help investors control their emotions because they are interested in timing the market to buy the dip. Anytime they accumulate bitcoin and there is a little dip, they will regret buying bitcoin at the wrong time. The DCA strategy should be done in such a way that we set out a particular date to accumulate Bitcoin monthly. For instance, we can set out to accumulate bitcoin every 5th of the new month since monthly salaries are paid at the end of each month, and sometimes it might be delayed. And when the date comes, we can accumulate bitcoin even though the price is increasing or decreasing.

Buying daily could be a burden and therefore difficult to implement. If the purchase is made on centralized exchanges, consider the withdrawal fees which is expected to be made daily, that a lone can become a big amount of money when you check it in a month time of daily withdrawals.
If we are purchasing our bitcoin on a centralized exchange, that doesn't mean we should be withdrawing our bitcoin anytime we purchase bitcoin. We can withdraw our bitcoin when we have accumulated bitcoin worth $500-$1000, so we will spend less money paying for the centralized exchange transaction fees.



BIG WINNER!
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░▄███
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████
██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░
▀██░▄▄▄▄░████▄▄██▄░░░░
▄████████████▀▀▀▀▀▀▀██▄
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄
▀██░████████░███████░█▀
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████
▀████████████████████▀




Rainbot
Daily Quests
Faucet
Dunamisx
Hero Member
*****
Offline Offline

Activity: 882
Merit: 545


★Bitvest.io★ Play Plinko or Invest!


View Profile
May 15, 2024, 01:21:44 PM
 #8414

Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.

If we are all to depend on our respective country economy, then there is likely occurrence of not meeting up to target with our finances because we will be limited to so many things, bitcoin has made it possible for everyone's financial independencies, this is how its been expected for us to have freedom from the use of a decentralized digital currency as bitcoin, whereby when we adopt and invest in it, we are not going to be affected by the way of the centralized economy and system of government in the financial sectors.



.
.BIG WINNER!.
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
Bravut
Member
**
Online Online

Activity: 126
Merit: 25


View Profile
May 15, 2024, 02:02:18 PM
 #8415

Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.

If we are all to depend on our respective country economy, then there is likely occurrence of not meeting up to target with our finances because we will be limited to so many things, bitcoin has made it possible for everyone's financial independencies, this is how its been expected for us to have freedom from the use of a decentralized digital currency as bitcoin, whereby when we adopt and invest in it, we are not going to be affected by the way of the centralized economy and system of government in the financial sectors.


We seem not to understand the need of the capacity of any individual before investing. I don't suggest anyone struggling financially to invest in Bitcoin, look for work or something that will generate a suitable income for you, so as to ease your quest for short term profit and also fingering your investment funds.

Then you can talk about investing within your means, allocating your funds properly. So you don't exhaust yourself, as simple as it should be.


▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Hewlet
Full Member
***
Offline Offline

Activity: 308
Merit: 137



View Profile
May 15, 2024, 02:57:54 PM
 #8416


Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.
[/quote]
 Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.
Quote
it's not out of place to assign a certain amount that's going into DCA once every month and for most cases including the kind of option where he seems to be suggesting that 20% will go into his monthly DCA while 60% will be for house upkeep will work too well for most individuals. For most salary earners that recieved there pay at the end of the month, it's just best to stick to one time buy per month so as to become more disciplined with your DCA and also to ensure that you don't miss out on your DCA because you're trying to buy at different times of the months because you're trying to buy at a convenient dip. But like you've said, if you're able to go above once a month, it's totally okay to do that but if you're trying to buy at different times of the months just because you want to time the market, you might end up putting yourself at a tight corner we're event might play out and you might miss out on your buys due to unplanned event.



I think an income of $50 per month is of course quite a small income, in fact no company pays its employees $50 per month. I don't think it's too much of a burden for people to invest $10 per week because that's a nominal amount that is easily within everyone's reach, but yes, it comes down to each individual
I guess this should be in your country and based on what you believe is nominal as investment.
A person receiving a huge income doesn't necessarily mean they have much idle funds for investment
There are individuals choked up with expenses and responsibilities that is quite hard investing more than 10% of their income.
The best is investing as a capacity leads
regardless of how big or small your income his, with proper planning, you can still invest the right way. Those that earn more usually have better advantage of investing with a greater amount compared to those that earn little and I totally understand that the higher your earnings, the higher your responsibility tend to pile up but if you're disciplined enough to cutting down on your expenses, you can DCA with a greater amount of you're earning well. At the end of the day, even if you're DCAing with $10, $30 or even $100 per week, it doesn't make much difference as long as you're investing in line with your financial strength. Everyone will have to tailor down his investment choice based on the kind of situation that's peculiar to him/her and I think that that's the best way to invest.


Buy with spare funds and hide the balance
It would shock you one day the amount you would find there when you go finally check.
maybe we can make a little adjustments to this statement and rather say, Buy with the right amount of funds and take your eyes off it. the concept of buying with your spare funds will tend yo suggest that you have to nake all the expenses that you have and then whatever is left will go into investing into Bitcoin. You can't really do too well in your accumilation journey if you buy your Bitcoin with such kind of idea.


███████ ███████        R O L L B I T        CRYPTO'S MOST INNOVATIVE CASINO        [ PLAY NOW ]        ███████ ███████
//     TRADE RLB NOW!     //
███████ ███████ ███████            OFFICIAL EUROPEAN BETTING PARTNER OF SSC NAPOLI           ███████ ███████ ███████
laijsica
Member
**
Offline Offline

Activity: 112
Merit: 73

Eloncoin.org - Mars, here we come!


View Profile
May 15, 2024, 03:00:06 PM
 #8417

Quote
Another thing for me and I think the best approach to accumulation is to allocate 20% to bitcoin, keep 20% as an emergency fund for things that might happen unexpectedly, and the remaining 60% to make ends meet.
Imo i believe the optimum allocation is subjective based on individuals income, country, goal, and attitude towards risk.
The DCA amount allocated for the month
I guess doesn't have to be once a month but could be spread across the days in a month especially during a correction or dip.

That is not actually the right way to go about it because there is no way you could advise someone who is earning low to invest on a daily basis that's actually an over investment because let's take for instance he is earning $150 on a monthly basis and you advise him to invest daily and maybe he uses $5 as his accumulation amount on the daily basis and in a month we have 30 days depending on the particular month so perhaps $5*30=$150 he will spent per month which is his salary per month and that means he will be investing 100% of his monthly salary, this is actually an over aggressive investment, so perhaps I would advise you focus on weekly accumulation using $10 since you are earning $150 monthly because this will keep you away from getting in trouble during the process.
If you have to advise someone in the matter of investment, it should be avoided to be aggressive initially because he may jump into investing according to your advice but he may have excessively reduced the daily expenses on himself or his family. The monthly or weekly investment target is to be taken by the investor based on the disposable income. Also he has to keep extra floating cash from his income to spend during emergency. He should keep this money separately from his monthly salary. This is in addition to investment funds. It is important for you to have floating cash to protect investment funds for the future. I think that after an investor starts his investment as an independent in the initial stage, especially in BTC, the process of gradually increasing his investment should be high since investment lengthening and stack size increase over time.

ElonCoin.org    ElonCoin.org    ElonCoin.org     ElonCoin.org     ElonCoin.org    ElonCoin.org    ElonCoin.org
●          Mars, here we come!          ●
██ ████ ███ ██ ████ ███ ██   Join Discord   ██ ███ ████ ██ ███ ████ ██
KeenanEl19
Jr. Member
*
Offline Offline

Activity: 41
Merit: 9


View Profile
May 15, 2024, 03:22:59 PM
Merited by junder (1)
 #8418

I don't have any problem with the idea that some folks earn very low amounts, such as $100 per month or maybe even lower, yet I have some difficulties imagining scenarios in which persons at those same levels would be ready, willing and able to invest 80% or whatever into bitcoin.. That hardly makes any sense absent some further explanation, as I suggested some explanations in which a person could have some ways of getting food through farming or services or otherwise having various expenses paid for in terms of lodging - but at the same time, even if some folks might have some really strange circumstances, those do not make very good examples, unless we explain the circumstances, and another thing that I already mentioned several times is that a lot of people (whether poor or not) have really difficult times even investing and/or saving 10% or more of their income, so when we are coming up with examples that are presuming sustainable abilities to invest even greater than 30%, then I am going to question those circumstances, including questioning if they are either sustainable, long term or maybe just trying to play the wave by gambling and using money that you cannot afford to set aside for 4-10 years or longer, which are the kinds of longer term strategies that we are aiming to discuss in a thread like this... . .

with those who cannot manage their finances well, it is clear that they can experience financial difficulties even though they already have sufficient income. let's say that saving is one of the important things in life, of course as much as possible we must be able to set aside money to save with a good goal, namely for our own future, because our own future is in our own control. If we haven't been able to manage our finances before, we might have difficulties in the future. but if we can manage our finances well, we can set aside some money for savings, and of course that is a good thing. Especially if we can invest some of the income we earn, I think that is included in good management, but don't Until investing makes us unable to manage our finances well, that's not the right goal.

When we make investments, of course we must have a good understanding, including the strategies that must be used for the investments made. I think the strategy that might be implemented should be long-term, in other words, don't do it as a joke. With the DCA strategy itself, I think it can be done once a month if finances are optimal or stable, with needs that are always met and there is leftover that can be used to carry out the DCA strategy.
BABY SHOES
Sr. Member
****
Offline Offline

Activity: 350
Merit: 481


HODL - BTC


View Profile
May 15, 2024, 03:52:30 PM
 #8419

But, I think every country/region has a limit on the minimum wage paid to workers. If only a monthly salary of $50 they get this way, this is already a game by their boss.
 
On the other hand, if this is true, maybe that is what causes people there to be reluctant in starting BTC investment due to the limited money earned from paying their salaries after work, where they also know very well that starting to invest in BTC will be a solution that will help.
You have to understand that everyone must have sufficient finances first if they want to do something that is unusual for them, such as the option of investing in Bitcoin. Because if their income level is still quite low and they are only able to support themselves every month without anything more than that, I think a person like that should be able to look for other sources of income without disturbing their main source of income. So that he can immediately do his desire to invest in Bitcoin by buying at the dip and holding it until he really sees the profit he wants.
I always remember a lot of sayings now - improve your income first, when you want to increase your income then improve your skills so that money will be easier to get, that's how it is.

Why think about investing if the finance is still unstable this will be a problem in the middle of the road and until whenever your investment will not run smoothly, but it is true that when they have earned additional income or a sufficient monthly salary then they can set aside to invest in bitcoin.

To anyone, never feel late buying bitcoin whenever you have money you can buy and make a long-term investment, bitcoin always has a bullish / bearish cycle there must be a time when bitcoin crashes again so they can take advantage of this opportunity, the important thing now is how to increase finance with the skills you have that will certainly be a source of income.

██████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
██████████████████████
SHUFFLE.COM███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
█████████████████████
████████████████████
██████████████████████
████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
██████████████████████
██████████████████████
██████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
███████████████████████
██████
██
██
██
██
██
██
██
██
██
██
██
██████
████████████████████    ████    ██
.
Next Generation Crypto Casino
.
██    ████    ████████████████████
██████
██
██
██
██
██
██
██
██
██
██
██
██████
Reredmi896
Jr. Member
*
Offline Offline

Activity: 56
Merit: 7


View Profile
May 15, 2024, 04:22:47 PM
Merited by JayJuanGee (1)
 #8420


Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.
Isn't it better for people like that who have a salary below $50 to collect money first before buying BTC. Or at least it is better to invest in trading with a short term. And if there is more profit from trading can be saved to meet the target, if you feel the target has been reached you will be ready to start long-term investment by buying BTC with the DCA method. Because if you push too hard it will be very risky, better slowly but surely,

Pages: « 1 ... 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 [421] 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!