teamsherry
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May 17, 2024, 07:00:28 AM Merited by JayJuanGee (1) |
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Actually one thing you should know about Bitcoin investment is that if you should wait till you get the amount of money you want in your bank account before investing you could end up not investing at all because the more you are waiting to get rich first that's actually the more expenses are compounding, although I no that you have your own decision to make but waiting to be completely financially stable could possibly take you a very long time before you can start accumulating Bitcoin.
You don't have to get huge amount of money before you can start investing on Bitcoin, however is not like everyone who are into Bitcoin now have a bank stored with huge amount of money but instead they started from somewhere and before they realize they had already gotten a good amount of Bitcoin on their portfolio, so I would advised you start from little through the use of DCA strategy and with time and consistency you could be surprised with how far you will go on your investment.
Not everyone is blessed enough to have huge amount of money to invest in bitcoin at once, if i am not mistaken majority of the people don’t have that much to invest all at once that’s why the DCA strategy was introduced to so the less privileged can also have the opportunity to invest as well and not miss out. The amount we invest depends on the capability of risk tolerance and not the amount of money we have in our bank accounts. Some might be earning just little and still risk 50% of it into investing in bitcoin while a person who earns more might find it difficult to invest up 10% of their money in bitcoin. Waiting to accumulate more money to invest is not the best way for me, while trying to save up one might be faced with different financial challenges which might lead to spending part of the money meant for your investment so investing the little you can afford first and topping up whenever you can is the best way to accumulate bitcoin especially for those who don’t have huge amount. Waiting to have a better financial situation might never work out cause as you try to get more income yoir expenses might also increase along the way, so it best to get started buying bitcoin with how ever little that you can and then you can go about increasing your income to have more disposable income, but the size of our disposable income is not all about Income, although it plays a role, I think having a good cashflow management would be help you create more discretionary income for your self, for instance I could be earning up to 100$ per week and I am able to control my expenses and leave an extra 50$ as a discretionary income while someone earning up to 200$ can not even have that amount after his expenses has been done, and this could be due to having debt or spending too much on other activities or a poor cashflow management. So yeah we should also build ourselves to get better at improving the way we manage our income.
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Obim34
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May 17, 2024, 07:32:01 AM |
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Actually one thing you should know about Bitcoin investment is that if you should wait till you get the amount of money you want in your bank account before investing you could end up not investing at all because the more you are waiting to get rich first that's actually the more expenses are compounding, although I no that you have your own decision to make but waiting to be completely financially stable could possibly take you a very long time before you can start accumulating Bitcoin.
You don't have to get huge amount of money before you can start investing on Bitcoin, however is not like everyone who are into Bitcoin now have a bank stored with huge amount of money but instead they started from somewhere and before they realize they had already gotten a good amount of Bitcoin on their portfolio, so I would advised you start from little through the use of DCA strategy and with time and consistency you could be surprised with how far you will go on your investment.
Not everyone is blessed enough to have huge amount of money to invest in bitcoin at once, if i am not mistaken majority of the people don’t have that much to invest all at once that’s why the DCA strategy was introduced to so the less privileged can also have the opportunity to invest as well and not miss out. The amount we invest depends on the capability of risk tolerance and not the amount of money we have in our bank accounts. Some might be earning just little and still risk 50% of it into investing in bitcoin while a person who earns more might find it difficult to invest up 10% of their money in bitcoin. Waiting to accumulate more money to invest is not the best way for me, while trying to save up one might be faced with different financial challenges which might lead to spending part of the money meant for your investment so investing the little you can afford first and topping up whenever you can is the best way to accumulate bitcoin especially for those who don’t have huge amount. Waiting to have a better financial situation might never work out cause as you try to get more income yoir expenses might also increase along the way, so it best to get started buying bitcoin with how ever little that you can and then you can go about increasing your income to have more disposable income, but the size of our disposable income is not all about Income, although it plays a role, I think having a good cashflow management would be help you create more discretionary income for your self, for instance I could be earning up to 100$ per week and I am able to control my expenses and leave an extra 50$ as a discretionary income while someone earning up to 200$ can not even have that amount after his expenses has been done, and this could be due to having debt or spending too much on other activities or a poor cashflow management. So yeah we should also build ourselves to get better at improving the way we manage our income. Yes, I go with what you said. We do not need to first get a full tummy before wanting to invest in Bitcoin, everything goes gradually that raises the need for why we choose to DCA. How good or bad an economy is at that moment plays a significant role on the amount of funds to be invested, a bad economy also means a poor investment but in that case dose not limit us from investing no matter how little it is, by DCAING we tend to build wealth with time. The bigger a persons income, the bigger his expenses so it is very difficult to get more than enough left over funds. Managing what we have and investing as much as we can afford.
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Roseline492
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[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). With what you said I think it is still a good idea, and maybe I will make this simpler which is to save 20% of the total income you have every month so that when you feel that you are not enough with the amount of 60% funds for needs because there is something that happens in an emergency such as experiencing illness or any event that requires you to spend some money then you can use the emergency fund without having to interfere with the 20% budget for your bitcoin accumulation which indirectly maintains the consistency of your DCA, but you can also change the percentage if your expenses are more than 60%. You are still misunderstanding emergency fund to be reserve funds, meanwhile it will help you a lot if you are able to understand the difference between emergency funds and reserve funds so that you will not use your emergency funds to sort out your daily needs thinking that's the function because is contrary to the work of emergency funds however the reason for reserve funds is because we know that on the process of accumulating and holding there will always be needs for some certain things it could be illness or other things so establishing the reserve funds will help you take care of those needs while you keep accumulating and your emergency funds very intact.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
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Taskford
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May 17, 2024, 09:47:36 AM Merited by JayJuanGee (1) |
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[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). With what you said I think it is still a good idea, and maybe I will make this simpler which is to save 20% of the total income you have every month so that when you feel that you are not enough with the amount of 60% funds for needs because there is something that happens in an emergency such as experiencing illness or any event that requires you to spend some money then you can use the emergency fund without having to interfere with the 20% budget for your bitcoin accumulation which indirectly maintains the consistency of your DCA, but you can also change the percentage if your expenses are more than 60%. You are still misunderstanding emergency fund to be reserve funds, meanwhile it will help you a lot if you are able to understand the difference between emergency funds and reserve funds so that you will not use your emergency funds to sort out your daily needs thinking that's the function because is contrary to the work of emergency funds however the reason for reserve funds is because we know that on the process of accumulating and holding there will always be needs for some certain things it could be illness or other things so establishing the reserve funds will help you take care of those needs while you keep accumulating and your emergency funds very intact. Yeah even if there's no illness will came to him still he should not touch his emergency funds since he can still use it in future. It doesn't mean that he didn't get any sickness then he doesn't need that since we don't know what will happen in future and he will be more unfortunate if suddenly after he spend his emergency funds then he get a serious illness. For sure we have other source of funds so instead of thinking about touching the emergency funds we should settle to use it since to much being aggressive on our investment will put us in harm that's why everything need to be balance so even if we put up some big investment on bitcoin we can still live a comfortable life. We just need to work out to get good flow of investment and there's no need to get pressured about if we see other doing some nice thing like depositing big amounts for their investment since we need to focus on ourselves and always stick on what we are capable so we will never exceed.
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Hewlet
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May 17, 2024, 10:08:04 AM |
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[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). With what you said I think it is still a good idea, and maybe I will make this simpler which is to save 20% of the total income you have every month so that when you feel that you are not enough with the amount of 60% funds for needs because there is something that happens in an emergency such as experiencing illness or any event that requires you to spend some money then you can use the emergency fund without having to interfere with the 20% budget for your bitcoin accumulation which indirectly maintains the consistency of your DCA, but you can also change the percentage if your expenses are more than 60%. You are still misunderstanding emergency fund to be reserve funds, meanwhile it will help you a lot if you are able to understand the difference between emergency funds and reserve funds so that you will not use your emergency funds to sort out your daily needs thinking that's the function because is contrary to the work of emergency funds however the reason for reserve funds is because we know that on the process of accumulating and holding there will always be needs for some certain things it could be illness or other things so establishing the reserve funds will help you take care of those needs while you keep accumulating and your emergency funds very intact. I don't think that @CcnoutChopper19 Isn't wrong with his plan to set out 20% of his monthly income aside that will serve as his emergency fund while 60% will go into general upkeep and I can assume that the remaining 20% is what he intend to to keep for his monthly DCA. If this is his plan, then if he will be able to stick with it for a start till he is able to build a strong emergency fund that he wouldn't need to keep adding on to every month then it's just okay that way. Let's assume that his monthly earnings is $400, by virtue of his plan, $60 will go into his monthly DCA while $180 goes into his monthly upkeep and the remaining $60 will be for his monthly DCA. While this might look small, this could be a perfect model that will work well for so many individuals that earn an average pay and still want to set all variables in the right place and still stick with thier investment plan. With monthly savings of $60, emergencies like sickness or any other unplanned event can easily be sorted out for should the need arise.
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Nheer
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May 17, 2024, 12:20:25 PM |
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The amount we invest depends on how much of our discretional and disposable income we have after taken care of our personal needs and a provisional emergency funds, yeah you right about saying that those who have lesser risk tolerance level we tend to invest more than those that have higher risk tolerance level which differs individually even in terms of our income flows and expenses so any one can only invest the amount that suits him or her in terms of income flow, psychology, risk tolerance level and investment goals and objectives. It doesn’t really matter how much we start with and all that matters is to invest in bitcoin and gradually we can build our portfolio and accumulate more bitcoin regardless of one’s risk tolerance level. When investing you should try not cross your limits and only invest what you can at a time. So if you really want to be comfortable then just set it for investment without having to think again to be used as trading especially if we don't understand the trading scheme because in the end it can be like gambling where you only guess according to your instincts.
I wouldn’t advise a person who lacks understanding of trading to think of channeling their investment funds into trading because of the risk involved, trading has higher percentage of risk than Investing and holding and also trading carries more work load than investing because there are lots of things to be learned and understood before one starts trading and even after having the required knowledge the risk is only reduced and still not equal to or less than that of investing. Trading requires practice to perfect to some extent and to achieve this takes lots of time and effort and at the end success is not still not guaranteed. This is why beginners are advised to accumulate bitcoin to hold instead of trading.
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Uhwuchukwu53
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May 17, 2024, 01:06:14 PM |
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The amount we invest depends on how much of our discretional and disposable income we have after taken care of our personal needs and a provisional emergency funds, yeah you right about saying that those who have lesser risk tolerance level we tend to invest more than those that have higher risk tolerance level which differs individually even in terms of our income flows and expenses so any one can only invest the amount that suits him or her in terms of income flow, psychology, risk tolerance level and investment goals and objectives. It doesn’t really matter how much we start with and all that matters is to invest in bitcoin and gradually we can build our portfolio and accumulate more bitcoin regardless of one’s risk tolerance level. When investing you should try not cross your limits and only invest what you can at a time. So if you really want to be comfortable then just set it for investment without having to think again to be used as trading especially if we don't understand the trading scheme because in the end it can be like gambling where you only guess according to your instincts.
I wouldn’t advise a person who lacks understanding of trading to think of channeling their investment funds into trading because of the risk involved, trading has higher percentage of risk than Investing and holding and also trading carries more work load than investing because there are lots of things to be learned and understood before one starts trading and even after having the required knowledge the risk is only reduced and still not equal to or less than that of investing. Trading requires practice to perfect to some extent and to achieve this takes lots of time and effort and at the end success is not still not guaranteed. This is why beginners are advised to accumulate bitcoin to hold instead of trading. I will keep on saying it that Mr. A , Is trading is not a yardstick that every one will trade, while long term holding is basically patient inorder to make it huge trading is full of psychological thinking, and monitoring your trading 24/7 is not a small task. Wisdom is the principal thing and getting wisdom and applying it right make you smart and succeed in the BTC investment, you don't need to kill yourself first before you make money because if you die through emotional disorder courses by the market why trading even the one you have for you account may not be enough for the trader burial, I am not saying trading is bad to them that are good they should continue but one in comparison when you have not appetite or strength for the market is very wrong, the first time I hard if the DCA strategy it keeps ringing in my heart all the day as the only option to accumulate BTC and achieve my goal.
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Bravut
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May 17, 2024, 01:21:11 PM |
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The amount we invest depends on how much of our discretional and disposable income we have after taken care of our personal needs and a provisional emergency funds, yeah you right about saying that those who have lesser risk tolerance level we tend to invest more than those that have higher risk tolerance level which differs individually even in terms of our income flows and expenses so any one can only invest the amount that suits him or her in terms of income flow, psychology, risk tolerance level and investment goals and objectives. It doesn’t really matter how much we start with and all that matters is to invest in bitcoin and gradually we can build our portfolio and accumulate more bitcoin regardless of one’s risk tolerance level. When investing you should try not cross your limits and only invest what you can at a time. So if you really want to be comfortable then just set it for investment without having to think again to be used as trading especially if we don't understand the trading scheme because in the end it can be like gambling where you only guess according to your instincts.
I wouldn’t advise a person who lacks understanding of trading to think of channeling their investment funds into trading because of the risk involved, trading has higher percentage of risk than Investing and holding and also trading carries more work load than investing because there are lots of things to be learned and understood before one starts trading and even after having the required knowledge the risk is only reduced and still not equal to or less than that of investing. Trading requires practice to perfect to some extent and to achieve this takes lots of time and effort and at the end success is not still not guaranteed. This is why beginners are advised to accumulate bitcoin to hold instead of trading. I will keep on saying it that Mr. A , Is trading is not a yardstick that every one will trade, while long term holding is basically patient inorder to make it huge trading is full of psychological thinking, and monitoring your trading 24/7 is not a small task. Wisdom is the principal thing and getting wisdom and applying it right make you smart and succeed in the BTC investment, you don't need to kill yourself first before you make money because if you die through emotional disorder courses by the market why trading even the one you have for you account may not be enough for the trader burial, I am not saying trading is bad to them that are good they should continue but one in comparison when you have not appetite or strength for the market is very wrong, the first time I hard if the DCA strategy it keeps ringing in my heart all the day as the only option to accumulate BTC and achieve my goal. Some persons just love to overcomplicate things, we have said a lot it would be very helpful we just allow everyone do what suites them or dim fit in there eyes and see the results themselves. This thread have given enough information on how to go about developing a solid background for investing in Bitcoin, were we accumulate, hold according to a strategic investment plan overtime and allow it yield. DCAing which is the simple and best approach to accomplish such aim. Set up a reserve fund, and also an emergency fund as you begin so as not to get attracted with the invested amount to pay up bills thereby distabilizing the investment route. Rather some still talk about Trading, when you can just invest and be patient, yeah we have good Traders but the truth is Trading is exhausting. Leave Trading Bitcoin and Invest it isn't just mere coin but am Asset. Buy, accumulate more and hold. Be patient is it much to ask??
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Reredmi896
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May 17, 2024, 02:47:35 PM |
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Actually one thing you should know about Bitcoin investment is that if you should wait till you get the amount of money you want in your bank account before investing you could end up not investing at all because the more you are waiting to get rich first that's actually the more expenses are compounding, although I no that you have your own decision to make but waiting to be completely financially stable could possibly take you a very long time before you can start accumulating Bitcoin.
You don't have to get huge amount of money before you can start investing on Bitcoin, however is not like everyone who are into Bitcoin now have a bank stored with huge amount of money but instead they started from somewhere and before they realize they had already gotten a good amount of Bitcoin on their portfolio, so I would advised you start from little through the use of DCA strategy and with time and consistency you could be surprised with how far you will go on your investment.
Not everyone is blessed enough to have huge amount of money to invest in bitcoin at once, if i am not mistaken majority of the people don’t have that much to invest all at once that’s why the DCA strategy was introduced to so the less privileged can also have the opportunity to invest as well and not miss out. The amount we invest depends on the capability of risk tolerance and not the amount of money we have in our bank accounts. Some might be earning just little and still risk 50% of it into investing in bitcoin while a person who earns more might find it difficult to invest up 10% of their money in bitcoin. Waiting to accumulate more money to invest is not the best way for me, while trying to save up one might be faced with different financial challenges which might lead to spending part of the money meant for your investment so investing the little you can afford first and topping up whenever you can is the best way to accumulate bitcoin especially for those who don’t have huge amount. Not everyone can afford to invest in BTC, due to lack of capital but at least if you want and want to why not, and I agree with what you said about the DCA method which is intended for these people. But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage. Because if they try to invest even if it's only a little bit of what they can afford, wouldn't it hamper their finances more, and would it be more risky for their own lives, because investing is not far from the risks they will face. Isn't it better to be slow but sure to minimize something that is not wanted?
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Dailyscript
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May 17, 2024, 05:33:13 PM Merited by JayJuanGee (1) |
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Not everyone can afford to invest in BTC, due to lack of capital but at least if you want and want to why not, and I agree with what you said about the DCA method which is intended for these people. But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage. Because if they try to invest even if it's only a little bit of what they can afford, wouldn't it hamper their finances more, and would it be more risky for their own lives, because investing is not far from the risks they will face. Isn't it better to be slow but sure to minimize something that is not wanted?
You are right here! Investment is not for everyone but people also misunderstand this statement they feel you must be rich before you can invest and that when they mean by not everyone they meant the poor should avoid investment which is not true. In previous times the poor were the ones who see investment as a way out of poverty until this era the rich became part of it and started gaining shares in companies and invest in potential projects. Both the poor and the rich are allowed to invest. Although it is easier for one rich because they can afford anything, however the poor can invest in as much as they have taken care of the most important things (emergency funds, feeding and other things). What the differentiate the poor and the rich in their pattern of investment is that the rich are not afraid to take high risk. It is a criteria that the poor should pay close attention to risk management only in that way can they succeed in investment just like the rich. The reason is because if an investment goes wrong the rich ca easily invest again because their disposable funds are high while the poor would feel so down for losing such money. Which is why the poor must minimize risk and avoid greed in investment.
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Salahmu
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May 17, 2024, 05:41:55 PM Merited by JayJuanGee (1) |
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Actually one thing you should know about Bitcoin investment is that if you should wait till you get the amount of money you want in your bank account before investing you could end up not investing at all because the more you are waiting to get rich first that's actually the more expenses are compounding, although I no that you have your own decision to make but waiting to be completely financially stable could possibly take you a very long time before you can start accumulating Bitcoin.
You don't have to get huge amount of money before you can start investing on Bitcoin, however is not like everyone who are into Bitcoin now have a bank stored with huge amount of money but instead they started from somewhere and before they realize they had already gotten a good amount of Bitcoin on their portfolio, so I would advised you start from little through the use of DCA strategy and with time and consistency you could be surprised with how far you will go on your investment.
Not everyone is blessed enough to have huge amount of money to invest in bitcoin at once, if i am not mistaken majority of the people don’t have that much to invest all at once that’s why the DCA strategy was introduced to so the less privileged can also have the opportunity to invest as well and not miss out. The amount we invest depends on the capability of risk tolerance and not the amount of money we have in our bank accounts. Some might be earning just little and still risk 50% of it into investing in bitcoin while a person who earns more might find it difficult to invest up 10% of their money in bitcoin. The thing is that is not even all about having a huge amount of money to invest all at once but what is important is being able to start accumulating with the amount you can afford because sometimes it doesn't really matter how you can invest at once but what should be considered is how consistent you are into accumulating Bitcoin because even if an investor decided to invest all at once without a consistent accumulation their is a chance that he may not have a good tangible profits after holding. And also no matter how good it is for us to keep accumulating Bitcoin it will be very unwise for someone to invest 50% of his funds because it could go wrong for him and I consider those kind of investment as being greedy because it is believed that most of the people who missed to acquire Bitcoin when they had the opportunity before tend to invest aggressively in other meet up those opportunities they missed without realizing they can get into trouble.
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Rabata
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Actually one thing you should know about Bitcoin investment is that if you should wait till you get the amount of money you want in your bank account before investing you could end up not investing at all because the more you are waiting to get rich first that's actually the more expenses are compounding, although I no that you have your own decision to make but waiting to be completely financially stable could possibly take you a very long time before you can start accumulating Bitcoin.
You don't have to get huge amount of money before you can start investing on Bitcoin, however is not like everyone who are into Bitcoin now have a bank stored with huge amount of money but instead they started from somewhere and before they realize they had already gotten a good amount of Bitcoin on their portfolio, so I would advised you start from little through the use of DCA strategy and with time and consistency you could be surprised with how far you will go on your investment.
Not everyone is blessed enough to have huge amount of money to invest in bitcoin at once, if i am not mistaken majority of the people don’t have that much to invest all at once that’s why the DCA strategy was introduced to so the less privileged can also have the opportunity to invest as well and not miss out. The amount we invest depends on the capability of risk tolerance and not the amount of money we have in our bank accounts. Some might be earning just little and still risk 50% of it into investing in bitcoin while a person who earns more might find it difficult to invest up 10% of their money in bitcoin. Waiting to accumulate more money to invest is not the best way for me, while trying to save up one might be faced with different financial challenges which might lead to spending part of the money meant for your investment so investing the little you can afford first and topping up whenever you can is the best way to accumulate bitcoin especially for those who don’t have huge amount. Waiting to have a better financial situation might never work out cause as you try to get more income yoir expenses might also increase along the way, so it best to get started buying bitcoin with how ever little that you can and then you can go about increasing your income to have more disposable income, but the size of our disposable income is not all about Income, although it plays a role, I think having a good cashflow management would be help you create more discretionary income for your self, for instance I could be earning up to 100$ per week and I am able to control my expenses and leave an extra 50$ as a discretionary income while someone earning up to 200$ can not even have that amount after his expenses has been done, and this could be due to having debt or spending too much on other activities or a poor cashflow management. So yeah we should also build ourselves to get better at improving the way we manage our income. Yes, I go with what you said. We do not need to first get a full tummy before wanting to invest in Bitcoin, everything goes gradually that raises the need for why we choose to DCA. How good or bad an economy is at that moment plays a significant role on the amount of funds to be invested, a bad economy also means a poor investment but in that case dose not limit us from investing no matter how little it is, by DCAING we tend to build wealth with time. The bigger a persons income, the bigger his expenses so it is very difficult to get more than enough left over funds. Managing what we have and investing as much as we can afford. Bitcoin holding definitely requires money but only having money doesn't make holding if the person doesn't make any good start. I think people's decisions are more important than money. There are many wealthy people who do not have a little bit of Bitcoin under their control, but people with ordinary incomes are also aware of the benefits of Bitcoin, they try to keep a little money from their hard-earned money and invest it in Bitcoin. That person may have less investment but better than the wealthy person. Everyone who is doing DCA is slowly moving towards their goal. On the one hand, as their Bitcoin holdings increase, on the other hand, their wealth will also increase.
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JayJuanGee
Legendary
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Self-Custody is a right. Say no to"Non-custodial"
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May 17, 2024, 08:21:54 PM |
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Not everyone can afford to invest in BTC, due to lack of capital
There is an important distinction related to the point that you seem to be wanting to make, which seems to be that you are missing some nuance in regards to what makes a person able or unable to invest. There is some correctness that if a person lacks capital, then he may well not be able to invest into bitcoin or anything else, yet the more important point would be that a person's ability to invest in bitcoin or anything else relates to the extent to which he has discretionary income. So in that sense there is no requirement that anyone has any capital at all in order to invest into bitcoin, and so the main requirement is that a person has discretionary income - and sure, a person who has a lot of capital may well be able to invest into bitcoin by moving his capital from certain kinds of assets into bitcoin, so there could be exceptions to any proclamation - even though we already know that it is not required to have any capital to invest into bitcoin so long as you have discretionary, even though having capital could be another way to establish an investment into bitcoin. but at least if you want and want to why not, and I agree with what you said about the DCA method which is intended for these people.
So are you admitting that there is no need for capital to invest into bitcoin? But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage.
With something like bitcoin, many times it is better to get started as soon as possible, especially once you have figured out that you have discretionary income. Now you might have a lot of messiness in your cashflows and your psychology, so you may well need to get some of those things in order, yet I would not presume that it mis necessary to get your finances and psychology in order prior to getting started in your investment into bitcoin, unless your situation happens to be so bad that you are not even able to figure out with any level of confidence whether you actually have discretionary income or not. Even though a large number of people might have a lot of complications in their finances and perhaps even lacking in their abilities to manage their finances very well. Most likely an overwhelming number of folks should be able to tell you wether they have $100 per week or maybe $10 per week that they would be able to spare or throw away (meaning that it is extra and not needed to cover their expenses). When folks have really small amounts of extra income and a lot of disorganization in their finances, it is likely more important that they start out more slowly and that they also spend time getting their shit figured out, but that still may well not justify waiting rather than getting started right away with some small amount of discretionary income that can be figured out. If there is no way to establish the existence of discretionary income, then those people need to make sure that they have discretionary income before they can start to invest into bitcoin. Because if they try to invest even if it's only a little bit of what they can afford, wouldn't it hamper their finances more
Yes... if they have figured out that they actually do not have discretionary, then the should not be investing into bitcoin, because if they were to do that they would be gambling rather than investing. They need to be able to put the money into bitcoin and have a certain level of confidence that they are not going to need such money for 4-10 years or longer and also understand the risk that the amount that they put in could go to zero (meaning they could lose up to 100% of the amount that they put into bitcoin, so they have to be ready, willing and able to accept that possibility, and if they are not able to do that, then their finances and psychology is not ready to invest into bitcoin). , and would it be more risky for their own lives, because investing is not far from the risks they will face. Isn't it better to be slow but sure to minimize something that is not wanted?
No it is not better to be slow. It is better to figure your shit out, and either you have disposable income or not. If you have disposable income, then it is better to get started investing into bitcoin as soon as possible and figure out some kind of a system. Otherwise, if you figured out that you either do not have disposable income, then you should realize that you are not able to invest into bitcoin until you are sure that you have disposable income and then you can ONLY invest into bitcoin up to 100% of the amount of your disposable income, but if you are not sure if you have disposable income then you cannot invest into bitcoin. I would not call that waiting, but instead you either have disposable income or you do not, and if you do not have it you cannot (or should not) be investing into bitcoin, and if you are not sure if you have disposable income or not, then you are likely in the same situation of not having it.. because you need to be clear that you actually have disposable income in order to invest into bitcoin, otherwise you are gambling and not investing. On the one hand, as their Bitcoin holdings increase, on the other hand, their wealth will also increase.
I agree with all of the points of your post, including this one, except you could have worded this part better, since you are suggesting that holding more bitcoin is going to guarantee increased wealth, which truly is not true. There is no guarantee, including that if someone does all the right things in bitcoin including investing into it as aggressively as he can, without over doing it, and he still might end up in a worse situation than if he had not invested into bitcoin... so surely it is better NOT to consider your bitcoin investment as if it were guaranteed, including communicating to others in a way that suggests that either you believe it is guaranteed or that it is guaranteed - since also you could lose your credibility when you communicate like that... even though many of us likely recognize and appreciate that it is better to invest into bitcoin rather than not investing into bitcoin, especially if we have figured out that we have discretionary income. The devil is also in the details in regards to either how much or how to go about such investing into bitcoin.
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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
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ginsan
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May 17, 2024, 09:15:15 PM |
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I agree with all of the points of your post, including this one, except you could have worded this part better, since you are suggesting that holding more bitcoin is going to guarantee increased wealth, which truly is not true. There is no guarantee, including that if someone does all the right things in bitcoin including investing into it as aggressively as he can, without over doing it, and he still might end up in a worse situation than if he had not invested into bitcoin... so surely it is better NOT to consider your bitcoin investment as if it were guaranteed, including communicating to others in a way that suggests that either you believe it is guaranteed or that it is guaranteed - since also you could lose your credibility when you communicate like that... even though many of us likely recognize and appreciate that it is better to invest into bitcoin rather than not investing into bitcoin, especially if we have figured out that we have discretionary income. The devil is also in the details in regards to either how much or how to go about such investing into bitcoin.
Yes, I want to give one additional point that might be considered by those who have not invested in Bitcoin. Talking about additional income, of course this money will not be used for other purposes, meaning that if we don't get additional income, our expenses will automatically remain the same, which is of course better to use additional income to invest in Bitcoin. If they save money, of course no profit will come to them unless they save it in the bank and of course there are taxes and only a very small percentage of interest per year. At this point, of course, the big conclusion is to take advantage of additional income to invest in bitcoin, which we consider this money to be ready to lose. Or as you said investing in bitcoin does not promise wealth but it is better to do it because we see the development of bitcoin increasingly advanced due to mass adoption. On the other hand, a fixed monthly income is of course included in the initial planning to set aside our ability to invest, such as 10% or 5%, for us to invest in bitcoin. If everything can be managed as well as possible, of course the investment we make in Bitcoin will not interfere at all with our expenses or our daily needs. From here the interesting conclusion is, of course, don't be afraid of losing the money we invest in bitcoin and this investment does not promise wealth, but there are times when we will enjoy profits from investing in bitcoin. Profit is the profit from the capital that we have spent, where if the target is to accumulate Bitcoin within a period of 10 years, after that we will calculate how much profit we get. Looking at the history of people who have invested in Bitcoin, they have become millionaires now, so your doubts are your fault. Get Bitcoin by buying regularly every week, no need to worry about the price going down because a downturn is the opportunity you have been waiting for to buy aggressively.
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| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
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bettercrypto
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May 17, 2024, 09:22:02 PM |
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The amount we invest depends on how much of our discretional and disposable income we have after taken care of our personal needs and a provisional emergency funds, yeah you right about saying that those who have lesser risk tolerance level we tend to invest more than those that have higher risk tolerance level which differs individually even in terms of our income flows and expenses so any one can only invest the amount that suits him or her in terms of income flow, psychology, risk tolerance level and investment goals and objectives.
There is some truth to implementing something like that and it is not at all bad for people who want to invest in Bitcoin, but in terms of buying on the Dip or chasing the Bitcoin Dip price in the market and holding it for the long term as an investment it will also not be that difficult for many people who know how to allocate funds for this. Because the part that will be considered the best investment in life must have a special allocation from the income or salary obtained monthly through our own work. Because things like that can also maintain the psychology and level of risk tolerance that we have to manage ourselves regarding what we do through the funds that we specifically allocate. In not all cases, you have to wait for the price of Bitcoin or other cryptocurrencies to fall deeply. You should have a bracket of how many percent you will buy a coin that you believe will give you good savings in the future. There are many people who are confused by such a system; what they think is going to drop a lot in the market is suddenly just a fake dump, and if they continue with the baiting tendency, the fund will be stuck and the expected will not happen, unless you really have a deep understanding of trading here in the crypto space.
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May 17, 2024, 09:30:27 PM Merited by JayJuanGee (1) |
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On the one hand, as their Bitcoin holdings increase, on the other hand, their wealth will also increase.
I agree with all of the points of your post, including this one, except you could have worded this part better, since you are suggesting that holding more bitcoin is going to guarantee increased wealth, which truly is not true. There is no guarantee, including that if someone does all the right things in bitcoin including investing into it as aggressively as he can, without over doing it, and he still might end up in a worse situation than if he had not invested into bitcoin... so surely it is better NOT to consider your bitcoin investment as if it were guaranteed, including communicating to others in a way that suggests that either you believe it is guaranteed or that it is guaranteed - since also you could lose your credibility when you communicate like that... even though many of us likely recognize and appreciate that it is better to invest into bitcoin rather than not investing into bitcoin, especially if we have figured out that we have discretionary income. The devil is also in the details in regards to either how much or how to go about such investing into bitcoin. Right. It will happen with those people who made investment from only with the hype when the greed level is high. If investors weren't aware at least with the basic knowledge then they will definitely face loss even they intend to investment in bitcoin. for example if a person invested in bitcoin at the 2021 at 69k then how will he make profit, he takes 4 years to recover even if he made the investment for the long-term. Here is memes for those- ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fpbs.twimg.com%2Fmedia%2FGMgeSQYaEAAK7tf%3Fformat%3Djpg%26name%3Dmedium&t=665&c=d5GXdhsF18P2xA) here is one video also https://twitter.com/naiivememe/status/1783890530952188267
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Sim_card
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May 17, 2024, 09:33:52 PM Merited by JayJuanGee (1) |
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But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage.
With something like bitcoin, many times it is better to get started as soon as possible, especially once you have figured out that you have discretionary income. Now you might have a lot of messiness in your cashflows and your psychology, so you may well need to get some of those things in order, yet I would not presume that it mis necessary to get your finances and psychology in order prior to getting started in your investment into bitcoin, unless your situation happens to be so bad that you are not even able to figure out with any level of confidence whether you actually have discretionary income or not. Even though a large number of people might have a lot of complications in their finances and perhaps even lacking in their abilities to manage their finances very well. Most likely an overwhelming number of folks should be able to tell you wether they have $100 per week or maybe $10 per week that they would be able to spare or throw away (meaning that it is extra and not needed to cover their expenses). When folks have really small amounts of extra income and a lot of disorganization in their finances, it is likely more important that they start out more slowly and that they also spend time getting their shit figured out, but that still may well not justify waiting rather than getting started right away with some small amount of discretionary income that can be figured out. If there is no way to establish the existence of discretionary income, then those people need to make sure that they have discretionary income before they can start to invest into bitcoin. Some folks think that they don't have discretionary income left for them after their monthly expenses, whereas they have extra funds that they use to gamble, buy expensive clothes and buy things that is not that important whenever they get paid. Unknown to them that such funds can be used to invest into bitcoin because it comes regular from their income, but they will not have that idea. It is when they have made up their mind to invest and the start looking for how they get money that they will now realize that those extra funds after their monthly expenses in which they keep aside to buy some irrelevant things can be used to invest. If you are poor and you feel that your monthly income is small for you to invest, just be serious and try to see how you can invest, you will see that if you are serious, you will begin to look into your income and expenses to see how you can squeeze out some extra funds from there, and that is when you will find out that you can have some extra funds in which you can use to invest, or because you are so serious to invest, you will cut down some expenses to have extra cash. Investing helps a poor or average man to have financial management compare to when he is not investing. This is why bitcoin is the best asset that a poor man can invest in as long as he has income, because he can buy bitcoin with little amount based on his own discretionary income. It is only those that don't have a job or their income cannot take care of their monthly needs that cannot invest in bitcoin only if they look for additional income before they will. I pity for those rich people that don't want to invest in bitcoin because they will regret in the latter.
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Falconer
Legendary
Offline
Activity: 2632
Merit: 1136
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May 17, 2024, 09:36:01 PM |
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-snip-
In not all cases, you have to wait for the price of Bitcoin or other cryptocurrencies to fall deeply. You should have a bracket of how many percent you will buy a coin that you believe will give you good savings in the future. There are many people who are confused by such a system; what they think is going to drop a lot in the market is suddenly just a fake dump, and if they continue with the baiting tendency, the fund will be stuck and the expected will not happen, unless you really have a deep understanding of trading here in the crypto space. Shrink the scope and focus only on bitcoin. You won't get stuck with fake pump and dump, even if you get a dump at some point you can still buy and accumulate them. The price of bitcoin will increase over time, even someone who is stuck at the previous ATH can still hope to get a return when the season bullish occurs. If you buy and continue to accumulate, your average price will get lower and will no longer keep you stuck at ATH, for example. You can easily find examples like what I mean, so of course you won't be trapped in bitcoin if you have good financial strength. Even if you can still hold longer and wait out the bull run market for some time if you are stuck at ATH, you will likely find your investment in bitcoin to be profitable.
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Justbillywitt
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May 17, 2024, 10:02:39 PM |
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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, Is there any guarantee that someone who invest his little money in short term trading, that the person will make profit? Trading is not for everyone and there are techniques to these things, anybody can wake up and make investment and Hodl for long, but it's not the same thing when it comes to trading, hence people like me that know little or nothing about Short time trading, will prefer a situation where I can invest my $5 and be assured that my $5 is safe and continue accumulating no matter how small it is. Unlike trading where we have advanced and highly skilled professionals who are patiently waiting for you to make the slight mistake so they can profit from your money. People with low funding should not be venturing into trading, because when you guess wrongly and lose your funds it will take you longer time to rise back. I will rather accumulate with the little I have than venturing into day trading.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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nara1892
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 17, 2024, 10:05:00 PM |
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But isn't it better to collect money first for some people who are unlucky or whose jobs are below minimum wage.
With something like bitcoin, many times it is better to get started as soon as possible, especially once you have figured out that you have discretionary income. Exactly, I support your idea about this where maybe we have also often heard the saying that sooner is better, in any case including in investment where when people are still busy satisfying their desires with the money they have but we already have a smarter plan that leads to a potentially bright future when we have completed our accumulation plan (although not always guaranteed). On the other hand, lately I often see people who prefer to satisfy or improve their lifestyle when they have a lot of money rather than thinking about the future, even though fate in the future cannot always be predicted but obviously by thinking about the future early on by doing various things that might have great potential to give us a brighter financial situation and condition in the future then of course this is a better decision to do, especially if you realize that you now have a fairly good financial situation such as having additional income as you said.
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