Buy the DIP, and HODL!

[Theupdude]

You are absolutely correct, a wise person won't always depend on the work they are doing to get money rather they will look for something that will keep them financially stable even when there job is not longer there a wise person is always unlimited when it comes to ideas, reasoning, thinking and planing. It is very wrong to depend on a job because you are not the owner and you can be sack any day or anytime, if I should get a job where I'm working now I won't depend on the job rather I will be establishing myself while working in the place and I don't even plan to work for someone till I am old, my plan is once I'm done establishing myself I will quit the job and focus more on my company and some other Investment because if you are working for someone without setting things up for yourself you will definitely go broke once you leave the job.

Savings have been born out of the desire not to depend on work for money. People constantly live their lives with various kinds of fears. Because anything can happen in a person's life at any time. Even if a person has a high salary or earns a high profit from a business, if he spends the entire amount of money he has earned, then later he has to pay for various things. For some reason, he may fall ill, then as long as he is ill, he does not get any salary due to not working, as a result he has to go through a lot of trouble from the next month. Keeping all these thoughts in mind, people like to save a certain part of their income so that they can use it in the future in critical days. Bitcoin has made this saving system easier for people. Because here a person can save according to his ability to save. Someone may have the ability to save $50 per month, then he can save only $50, while someone can save $50,000 if he has the ability to save $50. And by offering the highest financial security for Bitcoin assets, there is no need to worry much after depositing it here. The only thing to keep in mind is that the investment should be maintained for the long term.

Exactly, the dependence on a job only is dangerous, as it is difficult to regulate. Having the opportunity to make your own business or to invest on a regular basis provides actual financial freedom. Savings are a bridge between short term security and long term stability and Bitcoin fits in that strategy. The Bitcoin has demonstrated that it can retain and even increase wealth to its holders across market periods unlike regular savings which are eroded by inflation.

The best thing is that it is applicable to any level of income. The point is to save up either 50 or 50,000 dollars every month, but regardless, it all comes down to the same thing: continue investing in Bitcoin and eventually you will have a cushion that cannot be achieved through a paycheck alone. It is also a shift in attitude- it is better to live paycheck to paycheck instead of creating a safety net, which you can rely on in case of illness, loss of jobs or you just want to quit and start your own business.

Bitcoin will not solve all the financial concerns overnight, but it will provide ordinary citizens with a means to secure their future without the consent of any individual. That is its true power.

[Alonso_]

I think age shouldn’t be very detrimental to our plans of investing in Bitcoin or trying to have more cashflow, because whatever our differences might be that shouldn’t be a discouragement for not buying and investing in Bitcoin, what is really important should be having a discretionary income that we can start investing in Bitcoin and also trying to have other necessary means of sustainability in our Bitcoin investment, I think as long as we’re alive we do pay bills and take care of our expenses, and expenses and bills have nothing to do with age, and I think that is enough reason why we can start investing as long as we have a discretionary income, and you can still try to increase our cashflow by having other source of income which can also help increase the discretionary income, 20s and 30s can just be a benchmark for having energy to have other different cashflow, there are people who are in their 50s and 60s that have multiple source of income, and are the mostly the once doing absolutely tremendous in their bitcoin investments and even have a better Bitcoin portfolio.

And talking about salaries which I know it’s quite important, but it’s more understandable that we’re buying bitcoin as much as we have a discretionary income which would be more safe for us.

Age itself does not stop anyone from investing in Bitcoin or from building more cash flow. What really matters is whether someone has discretionary income and the discipline to keep stacking without touching it for everyday bills. As you said, expenses will always be there no matter our age, so the real solution is having other income streams to support those expenses. That way, whatever goes into Bitcoin remains long term. Salaries or main income can serve as the foundation, but multiple income sources give extra room to increase discretionary income and keep the investment secure.

I largely agree with you buddy, age is not a barrier when it comes to Bitcoin investment, in as much as discretionary income and discipline is greatly needed in stacking up your Satoshis, take note that if the will is not there, it wouldn't be possible because regardless of if an individual has a discretionary income and the discipline to go all the way, if he doesn't have the will to invest in bitcoin, it wouldn't be possible, so having the will to invest in bitcoin is also essential for an investor to invest in bitcoin without giving excuses why it's not possible.

Anyone can buy and accumulate bitcoin, considering that they have a discretionary income to always buy and accumulate bitcoin, so we would not consider things like age when it comes to buying and accumulating bitcoin, there is now time one can’t consider increasing our cashflow because it’s as simple as making other financial decisions and maybe getting other businesses which could actually help generate more cashflow into our Bitcoin portfolio.

[Sim_card]

I agree with you that investors need to have source of income before they can approach the market to buy bitcoin in the dip which is a good idea,

You don't need to wait fod the dip before you can buy bitcoin mate, that's a wrong approach towards building a strong bitcoin portfolio for your future because you will only be buying once in a while and that's not even certain because what if the dip did not come. You will keep on waiting till infinity and miss out the chance of building and growing your bitcoin portfolio gradually overtime through DCA method which allows you to ignore the market price and stack up more sats with consistent and persistent for 4-10 years and above till you reach your bitcoin target.

Anyone waiting to buy bitcoin at the dip wouldn't have a target because he is not serious and focused in building his bitcoin portfolio as fast as possible with his discretionary income rather he prefers to buy at a very cheap price and will end up as a low coiner in the future. Such investors will definitely regret their actions for not accumulating as many bitcoin as possible when they have the money to do so.

make sure you use what you can afford to lose in bitcoin whenever you want to buy bitcoin and it will help you to focus on a long holding that will make you to earn good income from your holding, bitcoin is different from other business you can start today and start seeing instant result because there are some bearish season you will encounter in the process of holding bitcoin without be move to release your bitcoin no matter the challenge surrounding you because you have other source of income you can use to solve those challenges, but if you don't have such sources of income you will not overcome such challenges, this is the reason why is good to have source of income before going into long term holding.

I don't understand the kind of result that you are talking about because bitcoin investment that I know will take a pleb a complete circle before he can see a significant increase in his bitcoin portfolio if he keeps his DCA ongoing with consistent and persistent. Bitcoin is not a get rich quick scheme and you should know how you are talking an out bitcoin so that you don't mislead people that they can start making profits immediately the invest.

You can invest today and bitcoin price dips with 20% the next day, what will you say about that. Profits shouldn't be your concern as a new investor but staying focused on accumulating and hodli your bitcoin till you reach your target should be your priority.

[Stormisover]

I agree with you that investors need to have source of income before they can approach the market to buy bitcoin in the dip which is a good idea, make sure you use what you can afford to lose in bitcoin whenever you want to buy bitcoin and it will help you to focus on a long holding that will make you to earn good income from your holding, bitcoin is different from other business you can start today and start seeing instant result because there are some bearish season you will encounter in the process of holding bitcoin without be move to release your bitcoin no matter the challenge surrounding you because you have other source of income you can use to solve those challenges, but if you don't have such sources of income you will not overcome such challenges, this is the reason why is good to have source of income before going into long term holding.

This could be misleading and could send the wrong impression to mostly new investors to get panicked after investing in Bitcoin, Bitcoin investment is not a get rich quick investment that you will invest today and start seeing instant result you need to give a proper guild line to people who are interested to invest

The Bitcoin market is volatile it might get dip after you start investing but don't panic just keep accumulating and HODL, Bitcoin investment shouldn't be for a short time gain and also to be successful in Bitcoin is not guaranteed so don't expect to get instant result from Bitcoin investment your target should be to accumulate and hodl for 4-10 years.

@ Zackz5000, I think you have absolutely got the wrong interpretation perhaps you misunderstood what Oshio-man was saying and you ended up blowing things out of proportion regarding to what he was saying, some times it is very good to read in between lines of other fellows posts over and over again to actually grab meaning to their post before responding, I will suggest you read back again because in my reading of Oshio-man's post he was apparently saying that Bitcoin is different and nothing like some kind of business you can just start today and start seeing instant results, he was not saying Bitcoin is a get rich quick investment as you described. Oshio-man was implying that having source of income flow is advantageous in putting up a sustainable investment process in Bitcoin where you can be able to always be sorting out your bills without selling your Bitcoin too soon since it wrong to start Bitcoin investment and be expecting instant results.

[Muba20]

Exactly, the dependence on a job only is dangerous, as it is difficult to regulate. Having the opportunity to make your own business or to invest on a regular basis provides actual financial freedom. Savings are a bridge between short term security and long term stability and Bitcoin fits in that strategy. The Bitcoin has demonstrated that it can retain and even increase wealth to its holders across market periods unlike regular savings which are eroded by inflation.

If one only depends on a job, one can never achieve financial independence, one must think of alternatives. Moreover, a person cannot work for the rest of his life. If he cannot choose the right platform for his financial security at the right time, then his future financial security is uncertain. There is no problem in whatever job a person does, but he should have a long-term financial plan. Especially if someone is investing in Bitcoin as part of his long-term plan from his current time, then he can acquire a permanent asset at one stage. If one can think of purchasing Bitcoin regularly in the long term with only a part of his discretionary income for investing in Bitcoin, then it can ensure financial security for him in the future.

[Tungbulu]

Another thing is that guys sometimes get locked into shitty paying jobs, so sometimes they might need to spend some money (and/or time and energies) in order to put themselves in a place to be able to make better money.  These are not easy choices, and the answers are not obvious since they likely take some efforts from the involved person and also sometimes based on a variety of preferences and the potential to build on already existing skills and characteristics.

Our energies are high while we are in our 20s or 30s and that's the time when we must not stick with our monthly salary (if it's not adequate). One must go for extra work to generate extra income that we can use for investing in Bitcoin. Also if it becomes our habit in early age to work hard then we carry that with us as we grow. Inflation and low salary should not be an excuse, we have other options to increase our earnings.  These days inflation has gone up and people are finding it hard to live with monthly, it's essential for everyone of us to find some extra work to invest in Bitcoin. 

I get your point but I think these is even those who are in countries that even have jobs and offer free time or even pay hourly for a job, but for a country like mine  where even a graduate finds it very difficult to find a job talk more of a non graduate, then you’ll understand that, inflation and low income is a major excuse but not withstanding all of these, I also do agree with you that, the 20s and 30s are supposed to be an age of exploring and taking some calculated financial risk  but that doesn’t mean that we should at such ages life is supposed to be easy because I know of people who barely see what to eat even people above such age.

Most times I don’t have to judge or do a hasty generalization on people especially if I don’t get to know what they might be going through personally and at some point, I believe everyone who knows  about bitcoin and believes in it should want to invest and even hold it for long as possible but trust me, a good number of them are not holding it for several reasons and we do not have to blame them totally for it, especially if we don’t know what they might be going through.

If you cannot generate enough discretionary income to be able to invest in bitcoin for 4-10 years or longer, then you probably should not be investing into bitcoin until you are able to figure out how to accomplish such.

If you never get to a point of being able to generate discretionary income, then you are not eligible to invest into bitcoin, since you need a 4-10 year or longer time horizon. .. otherwise if you buy bitcoin with a less than 4 year time horizon you are trading and/or gambling rather than investing, which may or may not work out for you.  I don't recommend trading/gambling with bitcoin... even though some people will do that with their coming to bitcoin with less than a 4 year time horizon.

You've really hit on an important distinction between investing and speculating. Like every other/most long term assets, investing in Bitcoin requires both patience and stability to really understand and realize its actual potentials. If there's no discretionary income (which is leftover money that isn't really needed for essential expenses or actual emergencies) and they end up Investing the little money they have into Bitcoin, it could potentially cause some sort of unnecessary financial strain, and that is definitely not a good foundation for any solid investment.

I think that the 4 to 10 years horizon you pointed out is spot on. Historically, Bitcoin is known to move in cycles,  and those who tend to focus on shorter horizons are often left vulnerable to actually buying at a high price, selling at a low price or even shaken out during sudden market volatilities. But when folks approach the market with the mindset of Hodling through several cycles, they potentially get the chance to actually benefit from Bitcoin's asymmetric upside.

I also very much agree with point about gambling. When someone goes into Bitcoin with the hopes of getting some quick profits within the short term, perhaps a year or two, they're not really investing in the asset's long term adoption and utility, but merely speculating on Bitcoin's price movements. It's not as if trading is completely wrong, but the thing is that some folks fail to set their priorities straight and it's important for individuals to be crystal clear with themselves about which game they're playing. A lot of folks end up gambling with their investment unintentionally, simply because they haven't really built the financial stability and/or mindset to apply patience while investing in Bitcoin.

The take away point here is that, before anyone goes into investing in Bitcoin or any other asset, it's important for them to first of all, cover all the financial basics, which are Emergency fund, (although this could be  built simultaneously with your investment) income stability, discretionary income/cash flow. That's the only way that a long term Bitcoin allocation can become a strong sustainable strategy.

[Rockson1]

So are you indirectly saying they should fall into the billionaires bait or what, I think that at this point people with lesser amount of Bitcoin should be encouraged to keep accumulating and holding instead of directing their attention towards selling even though you're trying to say that they could sell in future probably when Bitcoin reaches 7 figures but selling shouldn't be their priority at this point, their major target should be continues accumulation and to keep holding and not otherwise since they're still starters, some of these newbies are weak hands they, need motivation and encouragement to keep pushing and any form of misinformation could make them do otherwise, let's be guided please.

Are we even talking about selling here, the major discussion here is buying with the perceived good strategy consistently with the amount we can be very comfortable with, just as you strategically noted, newbies are not supposed to be exposed to some statements that may likely lead them to sell at their early stage, it seems some bitcoiners don't understand what the term newbie is, newbies are those set of investors that are just new ro the investment that have not accumulated a good amount of bitcoin, they still have more years to invest in bitcoin and the only advise thet need is encouraging information that will guild them though while they are accumulating, the ideas and knowledge we have gotten as we invest is needed by the newbies and that's the only way we can help them.

[ndutndut]

True, an emergency fund is what separates a smart investor from someone just gambling with their future, because if you don’t have that backup then any small issue in life will push you to sell your Bitcoin at the wrong time, and that completely will destroy the whole idea of holding long term..

To protect your Bitcoin holdings from future dangers, it is important to have an emergency fund. The more Bitcoin you invest, the more security you need. Your emergency fund and your stable income are the most important as security. If you have a mirror, you will not be able to move forward with your Bitcoin investment, so if you are involved in Bitcoin investment, you must have a stable source of income.
Currently, many people are holding Bitcoins, but due to their lack of strategy, they face dangers with their Bitcoin holdings. Therefore, it is very important to know some strategies so that they are not in danger, an emergency fund will keep your Bitcoin holdings stable from any danger.

Even in business we need an emergency fund let alone investing in bitcoin, which is full of risks due to its high volatility. In business, we should have an emergency fund equal to 5 or 10 times our operating costs. This way, if our business loses income, it won't immediately collapse. We can still survive until the next project deal. Every business owner should strive for this when starting a business.

Furthermore, investing in bitcoin without an emergency fund will make it difficult to maintain stability when you need something urgently and the price drops, forcing you to sell at a loss. So before investing in bitcoin you should have a plan for each item to help you manage your finances more effectively and provide peace of mind in various aspects of your life.

[Shineup]

I think age shouldn’t be very detrimental to our plans of investing in Bitcoin or trying to have more cashflow, because whatever our differences might be that shouldn’t be a discouragement for not buying and investing in Bitcoin, what is really important should be having a discretionary income that we can start investing in Bitcoin and also trying to have other necessary means of sustainability in our Bitcoin investment, I think as long as we’re alive we do pay bills and take care of our expenses, and expenses and bills have nothing to do with age, and I think that is enough reason why we can start investing as long as we have a discretionary income, and you can still try to increase our cashflow by having other source of income which can also help increase the discretionary income, 20s and 30s can just be a benchmark for having energy to have other different cashflow, there are people who are in their 50s and 60s that have multiple source of income, and are the mostly the once doing absolutely tremendous in their bitcoin investments and even have a better Bitcoin portfolio.

And talking about salaries which I know it’s quite important, but it’s more understandable that we’re buying bitcoin as much as we have a discretionary income which would be more safe for us.

Age itself does not stop anyone from investing in Bitcoin or from building more cash flow. What really matters is whether someone has discretionary income and the discipline to keep stacking without touching it for everyday bills. As you said, expenses will always be there no matter our age, so the real solution is having other income streams to support those expenses. That way, whatever goes into Bitcoin remains long term. Salaries or main income can serve as the foundation, but multiple income sources give extra room to increase discretionary income and keep the investment secure.

Bitcoin investment has nothing to do with hard work, such as skilled or unskilled labour, so I totally agree with you that age is not a barrier for anyone who has the desire to invest in Bitcoin. What you need to invest in Bitcoin is a steady source of income that guarantees you a discretionary income that will allow you to invest in Bitcoin, so if you are sure of this as someone who desired to invest in Bitcoin, you are in the right state to invest in Bitcoin, and age will not stop you from doing that because you can be in your toilet or going for business trip and still buy Bitcoin shamelessly and it will not stop you from carrying out your daily activities.

Is it a steady income or a discretionary income we need to invest in Bitcoin? I love the idea of having a discretionary income to invest in Bitcoin in a place of emphasizing on having a steady income reason being that the explanation of having a discretionary income shows that you must not have everything perfectly including a steady income to invest in Bitcoin but rather to only invest wherever you discover you have a discretionary to invest and when there is no discretionary income to invest you can pause your investment to be continued whenever you have this discretionary income available. That means anyone can invest without waiting to have a steady source of income.

[Obulis]

Apart from buying bitcoin during bull market, I think buying any other time can be profitable. The bitcoin market has trend, especially to the long time investors.It is always advisable to buy bitcoin when the price is low , so that when the price rises you will be able to make some profit.

When you buy your bitcoin when the market is already roaring ,it can make you loose money. Some people would continue buying bitcoin any time the price dips, and following  market news will go a long way because you will always be informed when to buy, more especially when the market is in deep red.

You've got the core of a good investment approach: buying in fear and selling in greed. It's is impossible to time the absolute bottom and history has it that accumulating during bear markets and deep corrections ("deep red") rewards long-term holders. This dollar-cost averaging strategy softens out volatility and avoids the serious danger of buying at great top. Information is key, but discipline - buying when others are dreading - can truly build wealth in Bitcoin, using every market cycles advantageously.

[Jostern]

I think age shouldn’t be very detrimental to our plans of investing in Bitcoin or trying to have more cashflow, because whatever our differences might be that shouldn’t be a discouragement for not buying and investing in Bitcoin, what is really important should be having a discretionary income that we can start investing in Bitcoin and also trying to have other necessary means of sustainability in our Bitcoin investment, I think as long as we’re alive we do pay bills and take care of our expenses, and expenses and bills have nothing to do with age, and I think that is enough reason why we can start investing as long as we have a discretionary income, and you can still try to increase our cashflow by having other source of income which can also help increase the discretionary income, 20s and 30s can just be a benchmark for having energy to have other different cashflow, there are people who are in their 50s and 60s that have multiple source of income, and are the mostly the once doing absolutely tremendous in their bitcoin investments and even have a better Bitcoin portfolio.

And talking about salaries which I know it’s quite important, but it’s more understandable that we’re buying bitcoin as much as we have a discretionary income which would be more safe for us.

Age itself does not stop anyone from investing in Bitcoin or from building more cash flow. What really matters is whether someone has discretionary income and the discipline to keep stacking without touching it for everyday bills. As you said, expenses will always be there no matter our age, so the real solution is having other income streams to support those expenses. That way, whatever goes into Bitcoin remains long term. Salaries or main income can serve as the foundation, but multiple income sources give extra room to increase discretionary income and keep the investment secure.

Bitcoin investment has nothing to do with hard work, such as skilled or unskilled labour, so I totally agree with you that age is not a barrier for anyone who has the desire to invest in Bitcoin. What you need to invest in Bitcoin is a steady source of income that guarantees you a discretionary income that will allow you to invest in Bitcoin, so if you are sure of this as someone who desired to invest in Bitcoin, you are in the right state to invest in Bitcoin, and age will not stop you from doing that because you can be in your toilet or going for business trip and still buy Bitcoin shamelessly and it will not stop you from carrying out your daily activities.

Is it a steady income or a discretionary income we need to invest in Bitcoin? I love the idea of having a discretionary income to invest in Bitcoin in a place of emphasizing on having a steady income reason being that the explanation of having a discretionary income shows that you must not have everything perfectly including a steady income to invest in Bitcoin but rather to only invest wherever you discover you have a discretionary to invest and when there is no discretionary income to invest you can pause your investment to be continued wherever you have this discretionary income available.

I think you’re getting it a little bit wrong, definitely we know that we need a discretionary income to invest in Bitcoin, and not a steady source of income, but in a slightly reasonable position, someone who is jobless and doesn’t earn money can literally not be able to buy or invest in Bitcoin because you need money to buy bitcoin, that is why we need a source of income, and it’s from that income or cashflow whatever you wish to call it that we get our discretionary income which we can afford to use and buy our bitcoin most especially after paying our bills and expenses, so like I said I think you got the statement wrongly, it’s more like this works with a strategy, I think it’s also good to hold on if we discover that we’re short of discretionary income, and probably continue when we have a discretionary income available.

[Gost ms]

I think you’re getting it a little bit wrong, definitely we know that we need a discretionary income to invest in Bitcoin, and not a steady source of income, but in a slightly reasonable position, someone who is jobless and doesn’t earn money can literally not be able to buy or invest in Bitcoin because you need money to buy bitcoin, that is why we need a source of income, and it’s from that income or cashflow whatever you wish to call it that we get our discretionary income which we can afford to use and buy our bitcoin most especially after paying our bills and expenses, so like I said I think you got the statement wrongly, it’s more like this works with a strategy, I think it’s also good to hold on if we discover that we’re short of discretionary income, and probably continue when we have a discretionary income available.

We need to find discretionary income. Just because we have a source of income does not mean we can find discretionary income. We need to find discretionary income through proper financial management. While investing, we will have to reduce our extra expenses like eating out etc. All these expenses will be reduced. Because if you can reduce all these expenses then you can buy more aggressively with that extra expense, that amount of money. So we have to reduce all the extra expenses.

You should continue to buy continuously depending on your discretionary income. If a person does not buy depending on his discretionary income, then he may put his investment at risk after a while. For example, if he invests with emergency money, if he needs that amount of money, he may have to sell the investment. Therefore, a person should continue to buy continuously depending on his discretionary income by adopting the DCA method.

[Showlove01]

Apart from buying bitcoin during bull market, I think buying any other time can be profitable. The bitcoin market has trend, especially to the long time investors.It is always advisable to buy bitcoin when the price is low , so that when the price rises you will be able to make some profit.

When you buy your bitcoin when the market is already roaring ,it can make you loose money. Some people would continue buying bitcoin any time the price dips, and following  market news will go a long way because you will always be informed when to buy, more especially when the market is in deep red.

You've got the core of a good investment approach: buying in fear and selling in greed. It's is impossible to time the absolute bottom and history has it that accumulating during bear markets and deep corrections ("deep red") rewards long-term holders. This dollar-cost averaging strategy softens out volatility and avoids the serious danger of buying at great top. Information is key, but discipline - buying when others are dreading - can truly build wealth in Bitcoin, using every market cycles advantageously.

There is nothing like great danger buying at the top of Bitcoin if you are actually buying Bitcoin to hodl for long term. When you say great danger sounds like you want to trade it and newbie can also get scared with that statement and they can carry it in their mind that there is a great danger if they buy Bitcoin at the top. The DCA method is always there to buy Bitcoin regardless ( both Dip and surge) of the price and there is no danger so long as you are buying to hold for long. There will only be danger if you buy at the top and you want to trade it and that is not even our discussion here.

[AirtelBuzz]

Age itself does not stop anyone from investing in Bitcoin or from building more cash flow. What really matters is whether someone has discretionary income and the discipline to keep stacking without touching it for everyday bills. As you said, expenses will always be there no matter our age, so the real solution is having other income streams to support those expenses. That way, whatever goes into Bitcoin remains long term. Salaries or main income can serve as the foundation, but multiple income sources give extra room to increase discretionary income and keep the investment secure.

You must not have multiple sources of income before you can comfortably invest in Bitcoin, what you need is a good source of income that can cover your basic needs and allow you have enough discretionary income from where you will invest part into Bitcoin and part of it kept as emergency funds. This idea of having multiple sources of income have made more people spread their money and energy into things they should have avoid to focus on things that will help them just because they want to create many streams of income.

You shouldn't have multiple sources of income before you can comfortably invest in Bitcoin, this might be a made-up comment on your part because if we have multiple sources of income before investing, it creates a foundation for progress and a unique path for us. In fact when a person has money coming in from multiple sources of income, they don't have to worry about investing, meaning they can be smart investors and refrain from gambling on the future. In other words having multiple sources of income can better meet basic needs and increase our financial security because then everyone has more opportunities to earn money. So I disagree with your statement that you shouldn't have multiple sources of income before investing.

If you have a good business that is fetching you enough money, you can use part of your profits to start building your Building your Bitcoin portfolio. The focus is to have discretionary income and emergency funds to protect the investment from being sold when it was not planned.

Why only one business? If you have several businesses, it is possible to earn enough money from them too and if someone makes enough money from one business, then he has more businesses that is, he has two or three businesses, he will be able to earn a lot more money, which will result in earning much more money than he needs. So if these people have a long-term view of investing in Bitcoin, they don't have to be chaotic about their investment path because nowadays it is seen that many holders who have Bitcoin want to deposit more and more, just as those who have money want to save more and more money. Therefore those who have a large amount of savings can easily smooth out their investment journey.

[SmartCharpa]

I agree with you that investors need to have source of income before they can approach the market to buy bitcoin in the dip which is a good idea, make sure you use what you can afford to lose in bitcoin whenever you want to buy bitcoin and it will help you to focus on a long holding that will make you to earn good income from your holding, bitcoin is different from other business you can start today and start seeing instant result because there are some bearish season you will encounter in the process of holding bitcoin without be move to release your bitcoin no matter the challenge surrounding you because you have other source of income you can use to solve those challenges, but if you don't have such sources of income you will not overcome such challenges, this is the reason why is good to have source of income before going into long term holding.

This could be misleading and could send the wrong impression to mostly new investors to get panicked after investing in Bitcoin, Bitcoin investment is not a get rich quick investment that you will invest today and start seeing instant result you need to give a proper guild line to people who are interested to invest

The Bitcoin market is volatile it might get dip after you start investing but don't panic just keep accumulating and HODL, Bitcoin investment shouldn't be for a short time gain and also to be successful in Bitcoin is not guaranteed so don't expect to get instant result from Bitcoin investment your target should be to accumulate and hodl for 4-10 years.

I agree with you. This kind of encouragement can be misleading, because it makes people think they will see instant results after investing. For example, if someone invests in Bitcoin today because we told them they would see profits tomorrow, and the market happens to fall the next day, they will feel discouraged and think we misled them.

It doesn’t work that way. Bitcoin is not a get rich quick investment. It’s not something you put money into today and start making profits the next day. Investing in Bitcoin requires patience and a long-term mindset. We must train ourselves to stop chasing quick profits. Any newbie who comes in with the intention of getting rich overnight will most likely end up losing everything.

[abaeze]

Apart from buying bitcoin during bull market, I think buying any other time can be profitable. The bitcoin market has trend, especially to the long time investors.It is always advisable to buy bitcoin when the price is low , so that when the price rises you will be able to make some profit.

When you buy your bitcoin when the market is already roaring ,it can make you loose money. Some people would continue buying bitcoin any time the price dips, and following  market news will go a long way because you will always be informed when to buy, more especially when the market is in deep red.

You've got the core of a good investment approach: buying in fear and selling in greed. It's is impossible to time the absolute bottom and history has it that accumulating during bear markets and deep corrections ("deep red") rewards long-term holders. This dollar-cost averaging strategy softens out volatility and avoids the serious danger of buying at great top. Information is key, but discipline - buying when others are dreading - can truly build wealth in Bitcoin, using every market cycles advantageously.

Trying to catch the deep red after watching the news and trying to enter at once is a wrong approach in my opinion.
You should buy when the price drops and you cannot buy when the price increases. This is also a wrong approach because you may think that now the price has dropped, now is the time to buy, but it turns out that when you buy thinking the price is low, after a while the price has dropped further, you will be disappointed. Therefore, no one can accurately predict when the price will drop.

Therefore, without being too panicked about the price decrease or increase, it is the right investment decision to invest a certain amount of money regularly every week or month. No matter how much the price rises or falls, DCA solves this problem. In this way, you can buy the asset at the average price. Rather than entering at once after watching the news or trying to catch the deep red, buying regularly step by step by DCA is a proven and effective strategy. However, if someone is a long-term experienced investor and can take risks, then buying extra during a big market decline can provide additional benefits.

[ejikeme24]

so we would not consider things like age when it comes to buying and accumulating bitcoin,

Age can only be a threat to those Investors that can't make direct purchase, I noticed that some people are not familiar with online purchase. Instead they prefer making thier purchase through bitcoin ATM, and if they don't care to learn, some day they will get to a certain stage were they won't have the strength to be going to the bitcoin ATM as they used to when they have not come to aged. in this case they can just consider it as the end of thier accumulation journey, but those who are familiar with the online purchase will not be affected. However i think the best way is  to start bitcoin accumulation on time so that before we would get to the stage where we will be facing any of this challenges  then we must have reach our investment goal or the stage of overaccumulation.

[Kagaru]

So are you indirectly saying they should fall into the billionaires bait or what, I think that at this point people with lesser amount of Bitcoin should be encouraged to keep accumulating and holding instead of directing their attention towards selling even though you're trying to say that they could sell in future probably when Bitcoin reaches 7 figures but selling shouldn't be their priority at this point, their major target should be continues accumulation and to keep holding and not otherwise since they're still starters, some of these newbies are weak hands they, need motivation and encouragement to keep pushing and any form of misinformation could make them do otherwise, let's be guided please.

Are we even talking about selling here, the major discussion here is buying with the perceived good strategy consistently with the amount we can be very comfortable with, just as you strategically noted, newbies are not supposed to be exposed to some statements that may likely lead them to sell at their early stage, it seems some bitcoiners don't understand what the term newbie is, newbies are those set of investors that are just new ro the investment that have not accumulated a good amount of bitcoin, they still have more years to invest in bitcoin and the only advise thet need is encouraging information that will guild them though while they are accumulating, the ideas and knowledge we have gotten as we invest is needed by the newbies and that's the only way we can help them.

Actually the majority of the beginners simply do not know anything about Bitcoin to even think when to sell. Their greatest needs are discipline, the consistency, and a purpose of purchase. Earlier on, the individuals that had earned the most money using Bitcoin were not those that attempted to sell every time the price went up, but rather those that continued to purchase and cross the countless cycles and years.

Take a review of 2011, 2013 or 2017, most of the early holders sold too early because they lacked confidence or because they panicked when the price went down. They would afterwards say that their greatest regret was that they did not hold longer. The lesson is important to the beginner today. Premature selling is normally out of fear or poor advice. It is less risky to buy continuously with what you can comfortably afford while ignoring short-term noise, which a position-building person is still engaged in.

Then yes, the advice to newcomers should be that of simplicity, stay true, and make what you have early on untouchable. As soon as you obtain sufficient knowledge and confidence, you will be able to consider long-term strategy.

[yixichloro2xx]

I think age shouldn’t be very detrimental to our plans of investing in Bitcoin or trying to have more cashflow, because whatever our differences might be that shouldn’t be a discouragement for not buying and investing in Bitcoin, what is really important should be having a discretionary income that we can start investing in Bitcoin and also trying to have other necessary means of sustainability in our Bitcoin investment, I think as long as we’re alive we do pay bills and take care of our expenses, and expenses and bills have nothing to do with age, and I think that is enough reason why we can start investing as long as we have a discretionary income, and you can still try to increase our cashflow by having other source of income which can also help increase the discretionary income, 20s and 30s can just be a benchmark for having energy to have other different cashflow, there are people who are in their 50s and 60s that have multiple source of income, and are the mostly the once doing absolutely tremendous in their bitcoin investments and even have a better Bitcoin portfolio.

And talking about salaries which I know it’s quite important, but it’s more understandable that we’re buying bitcoin as much as we have a discretionary income which would be more safe for us.

Age itself does not stop anyone from investing in Bitcoin or from building more cash flow. What really matters is whether someone has discretionary income and the discipline to keep stacking without touching it for everyday bills. As you said, expenses will always be there no matter our age, so the real solution is having other income streams to support those expenses. That way, whatever goes into Bitcoin remains long term. Salaries or main income can serve as the foundation, but multiple income sources give extra room to increase discretionary income and keep the investment secure.

Bitcoin investment has nothing to do with hard work, such as skilled or unskilled labour, so I totally agree with you that age is not a barrier for anyone who has the desire to invest in Bitcoin. What you need to invest in Bitcoin is a steady source of income that guarantees you a discretionary income that will allow you to invest in Bitcoin, so if you are sure of this as someone who desired to invest in Bitcoin, you are in the right state to invest in Bitcoin, and age will not stop you from doing that because you can be in your toilet or going for business trip and still buy Bitcoin shamelessly and it will not stop you from carrying out your daily activities.

If age was ever a factor in Bitcoin investment, it would only be in the sense of financial discipline rather than physical ability. Even if someone has a steady income, the real challenge is whether they can consistently separate part of it for Bitcoin instead of letting short term needs or desires consume everything. Because in the end, Bitcoin does not reward effort the way labour does, it rewards patience and the ability to hold value over time.

Maybe this is why you will see both young and old investors succeed or fail in the same way. The younger one may have more time but less discipline, while the older one may have income but less patience. What truly matters is not age or location but the decision to treat Bitcoin as long term savings and not just something to buy occasionally when it feels convenient.

[kanftka]

True, an emergency fund is what separates a smart investor from someone just gambling with their future, because if you don’t have that backup then any small issue in life will push you to sell your Bitcoin at the wrong time, and that completely will destroy the whole idea of holding long term..

To protect your Bitcoin holdings from future dangers, it is important to have an emergency fund. The more Bitcoin you invest, the more security you need. Your emergency fund and your stable income are the most important as security. If you have a mirror, you will not be able to move forward with your Bitcoin investment, so if you are involved in Bitcoin investment, you must have a stable source of income.
Currently, many people are holding Bitcoins, but due to their lack of strategy, they face dangers with their Bitcoin holdings. Therefore, it is very important to know some strategies so that they are not in danger, an emergency fund will keep your Bitcoin holdings stable from any danger.

Even in business we need an emergency fund let alone investing in bitcoin, which is full of risks due to its high volatility. In business, we should have an emergency fund equal to 5 or 10 times our operating costs. This way, if our business loses income, it won't immediately collapse. We can still survive until the next project deal. Every business owner should strive for this when starting a business.

Yeah emergency funds are truly a necessity whether we are talking about investing in Bitcoin or even running a business..  Nobody can deny that both areas come with their own risks, and without a safety net, it is easy to get stranded when unexpected situations hit.  But the part I will correct is the idea of having/waiting until you have saved 5 to 10 times your investment/operating cost before you even think of starting a business or putting money into Bitcoin…. Realistically, that is almost impossible for most people, and if we all wait for that level of preparation, many of us would never take off at all…

The way I see it, a more practical approach is to have at least 2–3 times your operation cost when starting a business, and the same logic applies to Bitcoin investment and accumulation..  If you want to invest, set aside at least 2–3 times your regular income as a buffer… That way, you’re not overexposed, and even if things go sideways, you still have enough to cushion the hit and bounce back..  It is all about balance, having backup to survive bad times, but not making the backup so unrealistic that you delay action forever…