Personally I will also advice you not to be worried about market conditions, I think most people makes predictions because they’re mostly interested in buying bitcoin in a reduced price, but I will also advice that you should be more interested in buying bitcoins on a regular basis, and I know that some investors would be more interested in buying bitcoins on a reduced price but that wouldn’t always be a necessity in terms of an individual who are buying bitcoin for a long terms plans.
Well like you have said you shouldn’t be worried about buying bitcoin or getting worried about the price of bitcoin it should be more interesting that you keep buying bitcoin consistently when you have a discretionary income, what your friends should know is that when they have a discretionary amount available, after taking care of their basic expenses it would be more better they use the money leftover from their income after paying for their expenses it should be more efficient when buying bitcoin with a discretionary income.
Yes, despite the market conditions there's no need to worry because everything has its time. If conditions are stable we can't correct anything about market conditions.
That's very clear my friend. When the price drops some people consider it an opportunity to buy Bitcoin hoping to continue increasing their assets by accumulating Bitcoin long-term. This is the price moment that many people are waiting for and I think only certain people are waiting for the price to drop. If they really want to buy Bitcoin the price rise or fall is no longer a factor. They know the results they'll experience when they sell Bitcoin at a price above their purchase price thus achieving the substantial profits they've already experienced. Therefore they don't mind buying Bitcoin when the price is fluctuating.
You seem to be distracted by the title of this thread Fadhil Pahlawadi.
The best thing is to get started investing in bitcoin no matter the price, and we are also not talking about trading here, but instead building up a bitcoin holdings which tends to take a long time to build up a bitcoin holdings.
Another thing is that people come to bitcoin at different points in their lives, yet many times it is better for any newbie to figure out their discretionary income and then start to invest into bitcoin from within their discretionary income while building their backup funds at the same time - since once the bitcoin investment is being built up, it is good to have back up funds in order to protect from tapping into bitcoin at a time that is not completely of the investor's own choosing, even if the bitcoin holdings might be in profits - especially if the investor might figure out that it is best to build their bitcoin holdings over a period of 4 to 10 years or more, so short term price fluctuation should not be an issue and perhaps even the size of the ongoing investment into bitcoin would also be small since there would be best practices of holding bitcoin longer rather than shorter - even though surely some persons might not want to commit to investing into bitcoin and might end up selling and not having any bitcoin, which is also their choice and likely not a preferable avenue when it comes to bitcoin and figuring out ways to be personally empowered from getting involved in bitcoin and staying involved in bitcoin - rather than trading it and ending up as a low coiner or even a no coiner.
It is very important to create an emergency fund for Bitcoin investment. As a result, an emergency fund will be useful in any emergency situation and if this emergency fund is not there, then in an emergency situation you will have to face danger. For this reason, an emergency fund should be given priority before investing so that it can be used properly when needed. And I think an emergency fund plays an important role in meeting the expenses of living.
The importance of an emergency fund is very important to reach our investment goals properly. However, waiting to build an emergency fund to invest is not a good idea at all. It would be a very reasonable idea for you to build both investments and emergency funds at the same pace. You are willing to put three times your income in an emergency fund. Then it will take a long time to build your emergency fund. During this time, you can miss out on many purchases. So if you build an investment and an emergency fund at the same time, it will be a very good decision for you.
Suppose you have $ 100 discretionary income, you can put 10% of this discretionary income in an emergency fund and invest 10%, so if you build both at the same pace, then your two sides will move forward very balancedThat is a pretty whimpy level of investing.
Let's say a person has a monthly income of around $1,200, and his expenses are around $700, so he has $500 remaining, so that means that he has a bit more than $100 for his weekly discretionary income. His choices are to consume, invest and save. He could put $33 into each, or he could make some other allocation choices. You are suggesting that he puts $10 into investing, $10 into savings and the other $80 into consumption? have you thought this through or do you know what you are talking about when you describe the options and how to arrive at the numbers?
By the way, a guy who has a $1,200 per month income and $500 in discretionary funds, that is 41.67% of his income is discretionary funds and if he decides to spend around $33 per week on bitcoin, then that would be right around $144.32 per month invested in bitcoin (since there are 4.33 weeks in each month), which would be 12% of his income invested into bitcoin, even though it is right around 29% of his discretionary funds. You claim to want to ONLY use 10% of the discretionary funds for investing and 10% for savings .. which leaves 80% for consumption, and sure no problem. People can choose their level of whimpiness or aggressiveness. I just got the sense that you did not know the significance of the numbers that you were proclaiming to be reasonable, whether referring to some beginner bitcoin investor or some other level of bitcoin investing experience.
Suppose you have $ 100 discretionary income, you can put 10% of this discretionary income in an emergency fund and invest 10%, so if you build both at the same pace, then your two sides will move forward very balanced
If it's your discretionary income you're talking of, what you can do for a $100 discretionary income will be to save up at least 10% for emergency needs and use like 50% or above of it for your investment. If you're not willing to do that, the challenge you will face is that you will take too long a time before you will be able to build up a good amount of bitcoin stack.
Most times we talk about investing with a small percentage of our income as though we have zero trust that bitcoin will still get bullish in the long run. While being safe regarding the amount one is using in investing is a good thing, being overly careful will lead to investing with so small an amount that will end up getting stagnated if care is not taken.
Let me further elaborate on Loyang's suggestion of investing 10% of his discretionary income, and if he has an actual income of $1,200 per month and he is investing $43.33 per month, then that would be an investment rate of about 3.6%, so it would take him 20 to 25 years just to invest 1 year's of his income into bitcoin, and sure it is true that some folks are poor and they have no money and they are struggling even to put 3.6% of their income into bitcoin, yet it is going to take a long time for those lower levels of investment to make progress in regards to building their investment, so if they can, then they can try to figure out ways to increase their discretionary income by increasing their income and/or cutting their expenses... and, sure, some folks cannot increase their discretionary income so they just have to do what they can, and if they think that they can ONLY invest 10% of their income into bitcoin, then they are purposefully acting in ways that are quite whimpy to bitcoin and also seeming to put quite a low priority on building their bitcoin investment (which truly is a choice that they had made in their level of aggressiveness or chosen level of whimpiness in the example that Loyang provided).
It is very important to create an emergency fund for Bitcoin investment. As a result, an emergency fund will be useful in any emergency situation and if this emergency fund is not there, then in an emergency situation you will have to face danger. For this reason, an emergency fund should be given priority before investing so that it can be used properly when needed.
In addition to what others have said above, I think that you are giving priority to the wrong one. Yiur bitcoin investment should be your first priority before your emergency funds because you are a no coiner and needs to get the fuck out of being a no coiner to low coiner by
investing right away without an emergency funds. Surely getting started in bitcoin is a priority, yet there still needs to be some amount of back up funds.. so for example if a person is paid around $600 every 2 weeks, and his expenses are around $700 per month, and surely the expenses are rolling in, yet even if all of the expenses had been paid, he has to hold back some (perhaps $350 for his expenses), then he has $250 remaining. it would be irresponsible putting the whole $250 into bitcoin if he does not have any other back up funds... So he needs to have some back up funds to cover him until he gets paid again in 2 weeks... I personally would suggest in that kind of a situation to invest no more than $125 into bitcoin and then figure out how much of the other $125 is still in savings (or back ups) when the next $600-ish pay comes two weeks later.
It is good to prioritize getting started in bitcoin, yet some money needs to be kept as a cushion, especially for guys who don't have any back up funds at all.
i would imagine that many normal (and responsible) people tend to keep at least 2 weeks or longer in back up funds, even though there are folks who also completely run out of money every time between their paychecks so they have absolutely no money in their back up funds at the time that they get paid every two weeks or however often they are paid. With bitcoin there is a need to build up those back up funds, even though the back up funds do not need to be built up prior to starting to buy bitcoin, even though many of us seem to agree that growing the back up funds at a similar rate as building the bitcoin stash might be a reasonable approach to getting each of those funds (the back up funds and the amount invested in bitcoin) to perhaps build to the level of 3 months of expenses.. and then maybe at that point, then the back up funds might be to a high enough level that more aggressive investment can be made into bitcoin..
There is quite a bit of flexibility in regards to how guys can balance out their bitcoin investing and their cashflow management (back up funds), yet if they end up screwing it up, then they will end up paying the price for their screw up, so on a personal interest level they should be incentivized to not screw up the amounts that they choose to allocate to each category of their regular bitcoin investment amount and their building up their back up funds to a sufficiently reasonable level that helps them to protect their bitcoin from getting tapped into at a time that is not of their own choosing.
Emergency funds is important, but its not compulsory that you must have it before you start your investment, no. What you only need basically to start up your Bitcoin investment is your discretionary income. Once you have been able to figure out your discretionary income, then you can begin your investment right away. As you keep investing, you can gradually build up your emergency funds and other back up funds from your discretionary income.
Waiting to build an emergency funds or prioritising your emergency funds Ans it's availability before starting your investment will keep you away from starting your investment, and of course, time waits for nobody. So it's better you start right away if you have your discretionary income.
Yeah, having emergency fund is most important part how to prepare unpredictable thing happen to us but allocate emergency fund for investing not bad ideas because we can sell bitcoin later if there is a sudden or urgent need. For emergency moment can't predicting happen one month or one year later until two years later but moving the emergency fund in bitcoin make us possibility increase the values of bitcoin assets.
Priority allocating money for emergency fund make us hold moment for investing in bitcoin and I think bad moment, we can't get the opportunity buy bitcoin at lower price exactly right now under $100k and moving awhile the emergency fund to invest in bitcoin. You can sell bitcoin later if any urgent needed.
It is a bad idea to consider bitcoin as part of your emergency funds rather than making sure that you always have enough back up funds, so that your own sloppiness in handling your cashflows does not contribute towards your creating your own emergencies in which you don't have any funds except your bitcoin, and so then you have no choice and then so you end up having to sell bitcoin at a point that was not your choosing, mostly due to your own failure to build and maintain options for yourself. So your desperateness to make more money ends up causing you to end up with way less bitcoin than what you otherwise could have had if you had handled your cashflows and back up funds with more intentionality to make sure that they were available in times that your income might have had gone down and/or your expenses had gone up.
Many poor people put themselves in such bad situations and they never get out of poverty based on their irresponsible handling of their cashflows and their failure /refusal to build/maintain adequate back up funds, so they end up having to sell some or all of their bitcoin at a time that was not of their own choosing and perhaps they are never able to build up their bitcoin stash again or perhaps they just end up being able to build up their bitcoin stash at a fraction of its prior level largely due to their own poor cashflow management practices, their failure keep back up funds which causes their bitcoin to serve as their only (or their primary) back up funds.
To those plebs who want to gamble in shitcoins because they want a higher short-term average ROI than trading Bitcoin, I believe a better asset to trade is Strategy stock,
MSTR.
It will surge when Bitcoin surges, BUT it might surge more - doing the same pattern like the last time Bitcoin surged.
Omg I don’t really understand what you’re talking about, buying shitcoins is always a risk as much as you would possible end up getting yourself in trouble with playing with shitcoins.
Why should we be trading bitcoin at the first place, that is a very terrible thing to do when buying bitcoin.
Why do I have to rely on MSTR when I can buy bitcoin and hold bitcoin myself.
Its weird how you’re dishing out trading advice to people here, how they should be having that strategy of trading bitcoin when it eventually surges, I think it’s a very ridiculous thing to do when you can possibly hold bitcoin for a long term.
It’s totally misleading for newbies and beginners who have a true intention of investing in bitcoin for a long term purpose.
Well I have said it several times here that waiting to buy the dip is always a strategy for Bitcoin traders, well now I believe I have been vindicated.
Yep. Another example of Wind_FURY being distracted and pumping bullshit ideas in a thread like this that involves investing he wants us to trade.
Sure it is possible that MSTR could end up being a good short-term trade, yet trading is still off topic in this thread.. .and pumping bitcoin derivate products is also off topic in this thread.
By the way, Wind_FURY has been waiting for the dip since around September 2023 (when bitcoin was trading around $27k), and he was waiting for $20k.. and so he seems to have had been whining and waiting for the dip since then, including recently proclaiming that he was waiting for the BTC price to reach touch on the 200-WMA or below (which the 200-WMA is currently $57k), so now he seems to have had changed his mind again, and now he wants to pump MSTR.. since apparently he is considering buying MSTR and perhaps giving up on his ideas to wait for $57k?
It is and has been a much better strategy for guys to stay focused on buying bitcoin and building up their bitcoin stash. Sure, if guys get tempted or lured into various shitcoins, trading or other products, then maybe the could choose to invest around 10% the size of their bitcoin stash into such other products... even though it is likely best to try to stay mostly focused on bitcoin.. yet having a 10% limit might at least allow them some flexibility, even though gamblers have difficulties limiting themselves.
