Buy the DIP, and HODL!

[ruykeri]

I agree with you, just setting a goal does not make anyone successful, the real difference is how consistently we follow that goal. We just have to plan, and will we achieve success? We have to take practical steps, only then can we move towards success. But we have to be firm on our goal first, especially in the case of Bitcoin or any investment, we often see that in the beginning everyone makes big plans, but when there is a slight volatility in the market, many deviate from their set path. It will never be possible to survive with this kind of mentality, rather we have to be more careful at this time. We should never deviate from the goal we set, only if we can survive consistently, then it will give effective results.

Without a well defined/specific goal, no plan can be realistic. Again success does not depend on any single factor. It is a combination of continuous and many factors, such as goal setting, consistent action according to the goal, and evaluation. So it is the same in the case of investing in Bitcoin. If someone maintains the continuity of investment and conducts investment activities on a long term basis with the aim of achieving success, then his success rate will be much higher.

Without a plan, success is not achieved. A goal is only useful when it is linked to your own reality. And it is true that success does not depend on any single factor. But in the case of Bitcoin, I would say that the greatest combination is discretionary income, backup funds, consistency, and enough time. Because just setting a goal is not enough. If your buying plan does not match your real cashflow, then you will break the plan after a few days. Again, even if you have consistency, if you are forced to sell in an emergency, then it is important to fix backup funds. These are all part of planning. And the success rate in long term Bitcoin investing is really high. So an investor has to move forward according to the right plan.

[Tetu100]

Having a fixed target will definitely encourage investors to be consistent with there bitcoin accumulation as the targeted goals will actually stand as means of motivation to most investors.Just like the saying were goal isn't know abuse becomes  inevitable. Most investors that doesn't have a targeted goals/ a set goals to achieve maybe carried away by market sentiment and end up messing up there bitcoin holdings since they don't have any targets.
Yes investors can always adjust there goals/ Plans especially when things aren't going the way they want it to.

No doubt, setting a clear goals in your investment journey is very much essential to your investment but don't you think it's also important putting down the basic necessities in place to enable your dreams or your actual goal come through? you don't expect some kind of magic to just happen after setting goals perhaps you most put in the required work and the basic necessities like setting up and emergency funds and backup funds, stay focused and to be more consistence in your accumulation stuff and also to have a strong holding capability to sustain till the end before you can be able to get the tangible results that you want.

[JayJuanGee]

The escalating situation in Iran suggests that BOTH Bitcoin investors who like to Buy the DIP and DCA will get more opportunities to purchase more coins with a discount.
 
How low is the discount? No one could predict such things, BUT place your bids and when filled, THEN HODL. Don't let the billionaires buy all of the coins with a discount. Save some of your monthly salary and buy some for yourselves too.

If guys are ongoingly buying, then they are likely going to end up buying any further dip if it happens.

[edited out]

I agree that the aim of going into bitcoin should be to secure our future and have a hedge over inflation and all that but how are you securing your future?….

There is no need to think about profits if you are building your bitcoin holdings.

If you look at it very clearly it’s through the profits that you make from your investments, if there’s no profits in the investment then your plans have failed.

There is no guarantee of profits in the future and there is no guarantee that your investment won't fail, yet guys invest into bitcoin for reasons other than number go up.  Some guys learn about hedging, insurance and other reasons to allocate into bitcoin as compared with other places that they might put their time, energy and value.

If you’re experiencing a loss of investment it’s no longer a secured future until there’s a profit.

You sound lost.  Your investment can be secured in a variety of ways, including how you chose to hold them.. .and also giving you options when you privately hold them as compared with if you don't privately hold your bitcoin.

So those who say they go into bitcoin for the profits are also right in their stands.

If they are only focused on profits, then they are likely to make mistakes since they are like little babies who only can think in terms of concrete matters, and they have no ability to think beyond what they see in front of them.  Have you ever heard of abstract thinking?

Going into bitcoin for profit doesn’t necessarily mean I’ll be agitated and emotional about it.

Yes.. it is a starting point for babies.  They start out thinking about number go up technology, and they realize that there is more to bitcoin beyond which direction the price may or may not go and how they deal with such price movements.

Guys who spend 1-2 cycles or more building up their holdings, they might not be looking too closely at the extent to which their bitcoin holdings is in profits or not, even though there surely isn't anything wrong with keeping track, as long as they don't get distracted by such superficialities.

[edited out]

Most individuals don't begin investing with fully mapped out plan they see things out as they go and their objectives evolve with experience, income and market reality the example of going from $30k to aiming for $80 through Bitcoin is very a good one more as a reference point than a fixed target it gives people something tangible to think about even if they later adjust it up or down at the end of the day the real value is in having some direction even if it is perfect instead of relying on a perfect plan that may never came through.

Sure start out with a ballpark idea of where you want to go, yet your plans about how to get there are likely more concrete and filled with action, such as buying bitcoin every week... and then so every year or so, there will be abilities to measure progress and to make adjustments from time to time in order to improve the progress (or to reassess the progress).

I understand that it can take a while to learn, and surely there are a lot of folks who really think in a kind of gambling way, which might be that so many folks do not even know how to invest.. and so if we have even a lot of newbies into bitcoin who have never invested, then they might have some difficulties figuring out how to get into the right kind of a mindset.

Whether on this forum or even in real life, I try to suggest that guys ease into building getting started, so then once they get started buying every week or whatever, then maybe at some point they can ramp up their level of investing, and it can even take a bit of time to get some accounts set up or to figure out from where they might source their coins in the beginning... yet of course, on the forum, we cannot necessarily know the options that might be available to people in differing geographical locations - even though in recent times, I have not really seen too many members complaining about their coin sourcing options .. even though surely it can be a bit of a factor to figure out in some locations.

I am also quite accepting of the time it requires to learn things, but we live in a bit strange times or the information connectedness has made us more aware of many people who are this way. Not so long ago it was considered wise to listen to older people with experience or simply those that have a lot of experience in a certain field. Now it seems that many people refuse to do that and have a right now I know what I am doing style that is similar to gambling or degenerate. Like I gave one example, I have others through my life where I warned people of not investing in some scams like 1% guaranteed return daily. Very few have actually heeded the warnings on time despite having no experience in that field. I did give them proper educational warning and not something insulting like just saying don't be stupid, don't do that. Sometimes I find it a bit sad that one help many people this way at all these days   but in the end everyone is responsible for their own decisions. It is on us to try to help others and educate them, and it is on them if they don't want to listen.

Sure, social interactions are changing based on changes in the way that information is available, and even break down of the family has been happening for a long time... so there has always been changes going on, and surely there is a lot of importance in critical thinking and discernment of information, and sometimes young  people might not realize some of their mistakes, but they also might have difficulties relating to some of their elders too...

I recall that I went through various phases of not wanting to listen to anyone else, which resulted in a lot of mistakes, but then some mistakes are more problematic than others in terms of screwing up future prospects, whether referring to finances or other life choices.

You are wrong when you are suggesting such high focus upon "profits".. so in that regard you seem to be unable to discuss the matter properly because you cannot even remove yourself from a trader mentality... so then you proclaim that everyone has the same mentality about profits, when they don't.

It is quite unusual for the user to suggest that speculation is necessarily where the history of Bitcoin and data about it shows is that those that don't speculate and just invest for the long term have significantly outperformed everyone.

We cannot really guarantee that the long term ongoing accumulation is going to continue to be profitable, and we might even assert that the future bitcoin price slope might be less steep than it has been historically, yet at the same time, there is no real data to support any assertion that bitcoin's investment thesis is weakening with the passage of time, so in that sense, even a brand new bitcoiner should consider figuring out ways to get started investing into bitcoin and to focus on trying to figure out ways to ongoingly accumulate bitcoin within an amount that they consider to be workable for their own cashflows, and surely there are some guys who have very little back up funds, and they likely need to make sure that they have back up funds if they are going to be investing into bitcoin for long periods forward, since there surely can be challenges to have a lot of confidence about not being tempted to tap into our bitcoin investment if we are not putting systems/practices into place that gives us some cushion in the event that our income might go down and/or our expenses might go up and we want to be able to continue to build our bitcoin for 4-10 years or longer, even if there might be some periods in which we might not be in a position to continue to add to our bitcoin stash that we are hopefully ongoingly building until it gets to a reasonable decently sized amount.

We can't guarantee anything, that is correct however still it would be quite unusual to suggest something that has never been proven to be the superior strategy. One could say a change is coming sure, but one can't have too much certainty and give it off as if it is going to be a sure thing. We know that historically DCA and holding has outperformed traders and speculators on average, actually this happens also in other markets. I recall some studies that were done that found this out, and other studies have replicated those findings. Here is an article about it https://tradeciety.com/24-statistics-why-most-traders-lose-money. Especially also when you consider people who do not have experience trading and speculating in any market at all, they should not really receive that advice in my view.

This is an investment thread, so there  is no reason to talk about or to promote trading, and sure there are some guys that might get distracted by the title of the thread, even though a lot of guys who are active in this thread consider DCA to be a likely preferable strategy since they are able to adjust their ongoing investment amount and their level of aggressiveness based on their own cashflow situation, and DCA is really good for doing that on an ongoing, persistent, consistent and regular basis.

Trading in Bitcoin but even worse in crypto which is what many normal people who call themselves traders in this space also do is very risky, for shitcoins it is like playing in a casino. It works well until that one moment where everything is lost and one can never recover to that point unless you put in a lot more money to buy back everything that you have built.

There are some folks who have somewhat degenerate personalities, yet if they could figure out how to at least limit the amount of their exposure to either trading and/or to shitcoins (perhaps to less than 10% of the size of their bitcoin holdings, then they might have some chance of learning their way out of such bad habits, yet so many times, there can be difficulties for guys to limit their own bad habits.. since they might have inclinations to go beyond their self-imposed limits, and then it just becomes an ever growing devolution.. that they might not be able to control.. so yeah, it can be difficult for guys who already have such gambling inclinations.

Yeah, I mean I have even had people who held fair portions of Bitcoin and some shitcoin. But they didn't have any defined limits. So once their shitcoin performed well most likely to luck they got a taste of what seemed easy money and transferred most of the stack into it hoping to make even more money. It didn't end so either. Now that I am writing this, it seems that almost any combination of anything has been tried especially degenerate things.

There is likely nothing wrong with some experimenting so long as people can limit their experimentation, yet part of the problem is that gambling tends to have a devolving effect in which the gambling gets worse and worse and worse.. so then yeah, they end up fucking up by going beyond the limits that they might have initially set for themselves.  There is only so much that can be done to save folks from their own dangerous and/or self-destructive inclinations that involve getting greedy and not making sure to impose their own strict (and self-imposed) limitations.

Perhaps that also shows that many people have an issue with patience? Monthly or weekly DCA especially one that is automated with some platform or tools can be seen as quite boring compared to the shitcoin or futures roller coaster. Perhaps with so much addiction to gratification these days, one of the best strategies is simply too boring for many? What do you think about this possibility?

I understand that people have defects and even inclinations towards short attention spans, including expecting short term results, yet patience can be learned through practice... which likely also includes attempting to come at bitcoin in a modest way and to build up incrementally... but yeah, normies are going to be ongoingly tempted by distractions.. and it is not easy to stay focused.. whether it is $100 per week, $10 per week or some other reasonable amount that also allows them to have money to put into their back up funds and also to have money for any discretionary consumption that they might want to do within the process, too.

I believe that there are actually very few reasons to stop accumulating. Sure we can think of specifics like reaching your own goal, the old established goal but why stop there?

Of course, each person has to consider his own situation and the extent to which it might be practical to change his goals (to make them higher) once he had already reached them.  Surely I understand that sometimes guys might set their goals too low, so there can be some reasonable basis for making the goals higher after they had been reached... and so surely the guy has to account for his own factors.. and then what it might mean to him to continue to want to accumulate more bitcoin when he may well have enough and/or even more than enough... and so maybe it is difficult to talk about these kinds of ideas in the abstract, since if we are working with a set of particulars, we may well recognize and appreciate how at some point enough, should be enough, and getting to the status of enough could open doors to have the freedom to quit ones job and to be able to live off of his bitcoin for the rest of his life.

Of course, your registration date is less than a year ago, so maybe we need to use a guy with a longer history, and sure we can change around the particulars, yet I am trying to show at what point a guy might have had reached enough or more than enough.

So, let me use an example of a guy who perhaps came to bitcoin in his mid 30s towards the beginning of 2016, and at that time, he had been perhaps attended some college, and he had been working for the past 10 or more years, and maybe he had some success and/or not, yet his income was around $30k per year, and his then investment portfolio was around $45k.. .. so he was not in a bad place, but he still wanted to be able to retire in his early to mid-50s, so maybe he first heard about bitcoin around that early 2016 time, so   he considered that maybe he could take around $10k from his already existing investment portfolio and put that into bitcoin, and otherwise he would continue to invest in bitcoin at a pace of around $100 per week (which was around 17.33% of his income).

He started out by investing the $11k in bitcoin between January and March 2026 - so he accumulated 27.25 BTC

Then thereafter starting from April 1, 2016 until now, he invested $100 per week into bitcoin, which added up to another $52k invested and 12.1 BTC.

So up until now he had invested right around $63k into bitcoin and he has 49.35 bitcoin.  I have a hard time concluding that the guy does not have enough or more than enough bitcoin, since his income was $30k per year, and perhaps his goal would have had been to have an income of around $80k per year and not having to work, yet right now he could get a sustainable income of $80k per year for right around 15.2 BTC per year

Yet, right now his 49.35 BTC will support an income that is about 3x his goal and right around 8x the $30k per year income that he had been making.  Sure, the guy is in his mid to late 40s because he is 10 years older, yet he is also ahead of schedule in terms of options.

You can quibble with the example, yet my main point is that there can be enough or more than enough, whether the person might be wanting to merely replace his current standard of living or perhaps to increase his standard of living by some reasonable multiple higher.  If the guy says that he is not going to stop untiil he is a billionarie, or that he is making over a million per year from his bitcoin, then he has a right to do those things even though they might not be necessary, especially some folks do not necessarily want to change their llfestyle in magnitude kinds of ways.

It is hard to talk about this in an abstract way, you are right on that because it depends on so many things and the details of each person. What I could maybe say in general there that applies is that whatever goals have been set and even more if they are far into the future, the strategy and goals will need revisiting and adapting. They may not necessarily be big changes, but like we gave the example of someone who is now earning considerably more than when they set the goals then they would have to adapt it upwards in this case.

Of course, at any point in time in the life of a bitcoin investment, the short term goals are going to be more concrete, which would be making sure to be able to pay the monthly bills and to monitor cash short falls that might be coming up in the next 3-6 months.., and personally, I have found it to be quite useful to project forward my cashflows for 1 months or more, and surely the more complicated the income/expenses, then the more important to include the various details and the more need for cash cushions.. yet at the same a projection of cashflow is going to be specific and accurate when it is 1- 3 months out, yet when it is 18 months out it might merely have more rough estimates... so as the time is passing then more months are added onto the projections and as the months pass, then months that were further out end up advancing to places in which they are more important to be accurate and precise, since if I had projected out that I had $2k coming in, but it only ended up being $500, then I am kind of fucked in the way that I projected out too generously, so it is better to underestimate the income and over estimate the expenses and to see that it still works ... and we get better at making such projections with practice.

The far out future, such as 5 years or 12 years or 20 years or further, there might be projection that show base case scenarios, worst case scenarios and best case scenarios.. and there might even be some other scenarios that are projected out and they surely are more ballpark ideas rather than precise the further out the projections.

For the example given, it is a good one and I'm actually also surprised that in such a short time span so much Bitcoin would have been accumulated. That was a good time to buy Bitcoin! That said, I didn't mean to say that there is no reason for anyone to stop at all in any case. It was more my personal view. I want more Bitcoin, but I am into Bitcoin I am not here just for the concept of investment. I do not plan to retire early like that guy, I like the work that I am doing it is quite fulfilling. So what would I do with all that spare cash?

Having extra cash is a good problem to have... and so each of us can decide how much of our extra cash we are putting into 1) investing, 2) savings (back up funds) and/or 3) discretionary consumption

If you have too much extra cash, then that is not a bad problem to have.. but yeah, if you don't spend it or invest it, then it is going to lose value.. so it gets to be a bit of a problem if you cannot figure out what to do with such extra cash, even though I doubt that very many folks consider having extra cash as if it were really a bad problem to have.

I do not like to waste it on overpriced items that are worth it, and neither is over-consumption of anything good including traveling. It is quite possible to reach a state that one would simply have money losing value in fiat, so what else one would do if they were like me than to accumulate more of other things even if old goals were met?

There are people who are holding onto too much cash, and surely that cash is likely losing value.  Many guys  here would put extra cash into bitcoin.. I surely cannot solve that problem for you if you canont conclude that bitcoin is a good place to put your extra cash.

So for example, if you have too much cash and you also have too much bitcoin, then you have to figure out some other place to put it.  I am not going to make any suggestions, since I am having difficulties believing that you don't know where to put your extra cash - especially since bitcoin seems to be the obvious place to put any extra money, which causes me to speculate that you might not understand bitcoin very well if you cannot recognize and appreciate it as being the place to put any extra money that you might have.

[landheer]

To me I still stand by saying that talking about profit now as a newbie is totally not acceptable because you will lose focus and balance in the achievements of the race in Bitcoin investment, what we should be doing is to teach them how to have patience in their investment and not to concentrate on the profits aspect.

Sometimes I don't understand why we forbid discussing profits, even though the goal of investing is to gain profits. In my opinion, discussing profits is a good thing, as it can encourage beginners to invest in BTC, but it's certainly not coercive. However, teaching patience is crucial, as if we aren't patient when investing in BTC, it will be difficult to hold our BTC for the long term. However, I don't think it's a problem to discuss profits, as there are times when discussing profits is important.

But the real question here is where people's focus is going when they talk about profit? Because profit discussion easily shifts the investor mindset to a trader mindset. Especially for beginners. They get stuck on the question of what BTC is, why it is scarce, how to accumulate, how to avoid forced sell instead of  how much profit will there be before learning these questions. Then Bitcoin becomes a quick profit element for them, not a long-term monetary asset. We all invest in some way or the other in the hope of future benefit or profit. There is no denying this. But profit and profit focus are not the same thing. A disciplined investor knows that profit is important, but he also knows that his job is to make the right plan, accumulate regularly. On the other hand, when beginners listen to profit discussion a lot, they usually start seeing only dollar gains. For this, the aim will be to make profits but that will be after investing for a long time.

But when I often talk about profits, I sometimes think of trading. And now I want to thank you for explaining this in detail to me. It seems like I'll be more enthusiastic about accumulating BTC now, because our goal is to accumulate BTC and hold it for the long term. It's too early to discuss profits, especially since this isn't a trading thread.

So, the point is, everyone wants profits when investing in BTC. But yes, too much talk about profits can sometimes lead beginners to think that investing in BTC for the long term is like trading, when in fact, it's different, isn't it?

[Makus]

Without a plan, success is not achieved. A goal is only useful when it is linked to your own reality. And it is true that success does not depend on any single factor. But in the case of Bitcoin, I would say that the greatest combination is discretionary income, backup funds, consistency, and enough time. Because just setting a goal is not enough. If your buying plan does not match your real cashflow, then you will break the plan after a few days. Again, even if you have consistency, if you are forced to sell in an emergency, then it is important to fix backup funds. These are all part of planning. And the success rate in long term Bitcoin investing is really high. So an investor has to move forward according to the right plan.

Sure discipline is a must have if you truly want to make some positive change and sticking to plan always eventually make your journey smoother compared to when you get distracted and try to diversity into gambling(shitcoins) or test other things while putting your bitcoin to hold. Though sometimes those experience are worth having in other to clsar the air but we must also ensure we stick to the initial plan of long-term investment goals and not digging further into gambling even when there's no positive result.

Having a back up funds along side your bitcoin investment is underrated, and here is why I think so. It’s possible most persons mis-conceptualize it for reserve fund or money they might be needing for the month without possibly considering large unforeseen expenses and so even when problem comes they still end up tapping into their bitcoin as they solution present. If anyone had saved up to 3 months of their monthly expenses I doubt that they'll be needing to tap into their bitcoin when unexpected expenses shows up or even panic in emergency situations that require money. In other words having emergency funds helps you stay calm to make proper decisions.

[Decimetre]

We can only secure the future by making a plan that will suit the future. This is where bitcoin comes in. The problem is that most people confuse saving for the profits with trading. Trading is aiming at a short term profit, not being able to hold your bitcoin for a long time and this is why they see bitcoin as a trade due to their greed. From my understanding, bitcoin is not supposed to be where you base your livelihood but where you save the reward for your livelihood in order to make an accumulated profit.

A person who buys bitcoin from his leftover money (Investor)is different from another person who buys bitcoin For his livelihood (Trader). The second person depends on timing the market and hoping that he makes a gain while the first person invests his bitcoin for a long time knowing fully well that there's a high probability of making a profit in the long run.

I’ll say it more of one’s conviction on investment and trading, there are so many person out there that believe they can make it via trading and they put all effort to make sure they learn those strategy to be profitable in trading because they’ve been convinced with flamboyant lifestyles of social influencers, but so far we’ve got very few successful traders.

I doubt there's a successful trader as long as he is still into trading because a trader may think he has been successful until a particular day that he will loose his entire fortune, what then makes him successful? Bitcoin trading can deceive you into believing that for the fact that you made profit in your first few trials, that you will always make the profit and some of them that have this mindset use to believe they have mastered the act of trading which is not true. You can not master what you cannot control which is why it will be good to focus on investment instead of trading. If a person can accept to invest with the money he will not need anytime soon, he will be able to see bitcoin as his trusted savings instead of seeing it as his main source of income. This is to say that it doesn't matter how experienced you think you are in bitcoin trading, your doom may come any day unless you change your mindset now but going into investment and stop trading.

And also there are others that believe in long term investment, they’ve analyze the inconsistency that comes with trading, the constant monitoring of price action, and fluctuating emotion every sec. These set of persons are not really moved by short term profit, so they put all effort to be consistent in their investment, until it get to the designated time they’ve scheduled. These set of persons are the ones that will likely be profitable  with Bitcoin investment

So the question is which of them do you think you are? When I joined here newly, I did more of reading and I noticed the emphasis on investment and trading and how emphasis was made on the price chart. This was how I decided to go watch the chart for a long time, sometimes I will make an assumption about the next movement and I fail or pass. I know that there may be people who will be professionals, but the stress of following this chart is not easy and I don't have that patience. So let me be the dummy that will accept my weakness. I cannot trade, I will Hold, for my own mental health.

[Proty]

But when I often talk about profits, I sometimes think of trading. And now I want to thank you for explaining this in detail to me. It seems like I'll be more enthusiastic about accumulating BTC now, because our goal is to accumulate BTC and hold it for the long term. It's too early to discuss profits, especially since this isn't a trading thread.

So, the point is, everyone wants profits when investing in BTC. But yes, too much talk about profits can sometimes lead beginners to think that investing in BTC for the long term is like trading, when in fact, it's different, isn't it?

It is not everyone that invest in bitcoin because they want to make profit. Although there are people that are into bitcoin because they want to make profit. However, there are investors that are buying bitcoin because they want to protect there wealth and not because of profits. Also bitcoin act as a hedge against inflation so there are people that are investing in bitcoin to avoid currency devaluation.
Bitcoin is decentralised in nature given anyone that invest in it the freedom to control there assets without the interference of any third party. Therefore profit is not the only reason why people invest in bitcoin.

[Cyber_warrior]

But when I often talk about profits, I sometimes think of trading. And now I want to thank you for explaining this in detail to me. It seems like I'll be more enthusiastic about accumulating BTC now, because our goal is to accumulate BTC and hold it for the long term. It's too early to discuss profits, especially since this isn't a trading thread.

So, the point is, everyone wants profits when investing in BTC. But yes, too much talk about profits can sometimes lead beginners to think that investing in BTC for the long term is like trading, when in fact, it's different, isn't it?

You are still complicating things a little bit because not everyone is investing for the profit. That's not the point actually, although you're right talking about profit will mislead a lot of people but it's actually not only about the talking but the mindset behind it. A person might be here talking a different thing but in real they're practicing something entirely different. People may say they’re long term investors but their mindset and behavior will actually be  like that of traders. Wanting profit or not it's never guaranteed so it's better to focus on ownership of Bitcoin and it's future value.

[cyberninja2]

It is not everyone that invest in bitcoin because they want to make profit. Although there are people that are into bitcoin because they want to make profit. However, there are investors that are buying bitcoin because they want to protect there wealth and not because of profits. Also bitcoin act as a hedge against inflation so there are people that are investing in bitcoin to avoid currency devaluation.
Bitcoin is decentralised in nature given anyone that invest in it the freedom to control there assets without the interference of any third party. Therefore profit is not the only reason why people invest in bitcoin.

I think not everyone only wants profit in investing in Bitcoin but sometimes with the wealth that someone has of course they want to save most of their wealth in the form of accumulating Bitcoin by buying by increasing the number of BTC over a long period of time. This may be a little anxiety experienced by someone because wealth will not be safe if it is not stored by collecting more Bitcoin even though sometimes the amount can decrease because when the price drops that occur from time to time change but the amount will also increase with an increase in market conditions so that a person's wealth will be safer through the path taken by that person by buying Bitcoin to invest in the long term.

[Yablee0]

But when I often talk about profits, I sometimes think of trading. And now I want to thank you for explaining this in detail to me. It seems like I'll be more enthusiastic about accumulating BTC now, because our goal is to accumulate BTC and hold it for the long term. It's too early to discuss profits, especially since this isn't a trading thread.

So, the point is, everyone wants profits when investing in BTC. But yes, too much talk about profits can sometimes lead beginners to think that investing in BTC for the long term is like trading, when in fact, it's different, isn't it?

It is not everyone that invest in bitcoin because they want to make profit. Although there are people that are into bitcoin because they want to make profit. However, there are investors that are buying bitcoin because they want to protect there wealth and not because of profits. Also bitcoin act as a hedge against inflation so there are people that are investing in bitcoin to avoid currency devaluation.
Bitcoin is decentralised in nature given anyone that invest in it the freedom to control there assets without the interference of any third party. Therefore profit is not the only reason why people invest in bitcoin.

Sure, everybody with their respective reasons and opinions why investing their money in Bitcoin, some are there to take quick profits and walk away while some are there to protect their fund's against inflation but the underlying fact still remains  that one must have a desire expectation before even thinking of investing in Bitcoin.

However,  making profits shouldn't be the only reason we do invest as earlier said above by proty because their are also some unique functions of Bitcoin like making our financial decisions ourself without the interference of a third party, and also it served as a store of value and so on.  Furthermore Bitcoin can enhance global transactions without experiencing any form of network disruption of any kind, it also has a very lower charges fees unlike our local banks, what more can I mention to prove my point? It's just what the society needs to make life more easy.

[cxtreenal]

But when I often talk about profits, I sometimes think of trading. And now I want to thank you for explaining this in detail to me. It seems like I'll be more enthusiastic about accumulating BTC now, because our goal is to accumulate BTC and hold it for the long term. It's too early to discuss profits, especially since this isn't a trading thread.

So, the point is, everyone wants profits when investing in BTC. But yes, too much talk about profits can sometimes lead beginners to think that investing in BTC for the long term is like trading, when in fact, it's different, isn't it?

In reality even if everyone wants profit you will not be able to reach your goal suddenly and there is no such magic for you. You have to achieve your investment goal. Set a goal through Bitcoin investment it can be a long term investment strategy. Bitcoin accumulation strategy through discretionary income. You have to meet your goal to get profit because to go through the process of long term investment strategy you have to be disciplined and patient.

A new trader tends to short term trading strategy. The initial focus on getting profit can put you in financial risk from the beginning. Your primary goal should be long term investment, not short term trading. After that be persistent in continuous Bitcoin accumulation through discretionary income and sometime buying lump sum because to get a large portfolio (over accumulation stage) of Bitcoin it is very important to be consistent as the accumulating grow.

[Princess Leah]

Sure, everybody with their respective reasons and opinions why investing their money in Bitcoin, some are there to take quick profits and walk away while some are there to protect their fund's against inflation but the underlying fact still remains  that one must have a desire expectation before even thinking of investing in Bitcoin.

However,  making profits shouldn't be the only reason we do invest as earlier said above by proty because their are also some unique functions of Bitcoin like making our financial decisions ourself without the interference of a third party, and also it served as a store of value and so on.  Furthermore Bitcoin can enhance global transactions without experiencing any form of network disruption of any kind, it also has a very lower charges fees unlike our local banks, what more can I mention to prove my point? It's just what the society needs to make life more easy.

Many people have invested wrongly because they feel it's their money and they can use it anyhow they like on any investment but in reality that's not the right thing to do. People shouldn't make mistakes cause they're willing to take high risks or ready to bare the consequences cause at the end it may end up being unbearable.

 What I was trying to say is that if someone is aware or understand that Bitcoin is a long-term investment and better profit could be made when he/she hold what they put into it for a longer period, they shouldn't be going into it with the mindset of taking profits quickly.

[ChocolateBitcoinK]

To me I still stand by saying that talking about profit now as a newbie is totally not acceptable because you will lose focus and balance in the achievements of the race in Bitcoin investment, what we should be doing is to teach them how to have patience in their investment and not to concentrate on the profits aspect.

Sometimes I don't understand why we forbid discussing profits, even though the goal of investing is to gain profits. In my opinion, discussing profits is a good thing, as it can encourage beginners to invest in BTC, but it's certainly not coercive. However, teaching patience is crucial, as if we aren't patient when investing in BTC, it will be difficult to hold our BTC for the long term. However, I don't think it's a problem to discuss profits, as there are times when discussing profits is important.

But the real question here is where people's focus is going when they talk about profit? Because profit discussion easily shifts the investor mindset to a trader mindset. Especially for beginners. They get stuck on the question of what BTC is, why it is scarce, how to accumulate, how to avoid forced sell instead of  how much profit will there be before learning these questions. Then Bitcoin becomes a quick profit element for them, not a long-term monetary asset. We all invest in some way or the other in the hope of future benefit or profit. There is no denying this. But profit and profit focus are not the same thing. A disciplined investor knows that profit is important, but he also knows that his job is to make the right plan, accumulate regularly. On the other hand, when beginners listen to profit discussion a lot, they usually start seeing only dollar gains. For this, the aim will be to make profits but that will be after investing for a long time.

But when I often talk about profits, I sometimes think of trading. And now I want to thank you for explaining this in detail to me. It seems like I'll be more enthusiastic about accumulating BTC now, because our goal is to accumulate BTC and hold it for the long term. It's too early to discuss profits, especially since this isn't a trading thread.

So, the point is, everyone wants profits when investing in BTC. But yes, too much talk about profits can sometimes lead beginners to think that investing in BTC for the long term is like trading, when in fact, it's different, isn't it?

I agree with you, success is not guaranteed, we have to invest based on probability, but if we expect guaranteed profits, then it will definitely be an unrealistic thought. No investment can guarantee us success, that is why we can never expect such a thing. We have to invest for the long term, accumulate Bitcoin through long-term goals, patience, time and consistency, then the market volatility will not have any effect on it. That is why I agree with you, that the talk of excessive profits can create a misconception among beginners, they will expect guaranteed success, so even a little volatility can create a lot of panic in them.

[Joeboy]

I agree with you, success is not guaranteed, we have to invest based on probability, but if we expect guaranteed profits, then it will definitely be an unrealistic thought.

If your target is to accumulate is set in a long-term timeline of say 10years then there is a certain level of confidence that folks will be placing themselves in a much more better position since Bitcoin has an history of always surpassing it's previous ATH despite it being a volatile asset... However that doesn't mean that there wouldn't be times where the price would dip, coz there will definitely be times when the price goes down and stay so for a while but for those folks that are able to be consistent while also maintaining patience always get to build something good and tangible for themselves...

No investment can guarantee us success, that is why we can never expect such a thing. We have to invest for the long term, accumulate Bitcoin through long-term goals, patience, time and consistency, then the market volatility will not have any effect on it.

As far as Bitcoin investment is concerned you cannot escape volatility, it will always affect your investment whether you like it or not....

[Finebone]

Sure, everybody with their respective reasons and opinions why investing their money in Bitcoin, some are there to take quick profits and walk away while some are there to protect their fund's against inflation but the underlying fact still remains  that one must have a desire expectation before even thinking of investing in Bitcoin.

However,  making profits shouldn't be the only reason we do invest as earlier said above by proty because their are also some unique functions of Bitcoin like making our financial decisions ourself without the interference of a third party, and also it served as a store of value and so on.  Furthermore Bitcoin can enhance global transactions without experiencing any form of network disruption of any kind, it also has a very lower charges fees unlike our local banks, what more can I mention to prove my point? It's just what the society needs to make life more easy.

I totally agree with your sentiment here that investment in bitcoin should not only be because of profit because if we are only concerned about profit, we are likely going to sell too early once their is a spike in price and we fell that we are in a serious profit, but if we invest with the aim of building a generational wealth with it, or use it as a store of value, we are definitely not going to be thinking of selling prematurely since we have a big ambition we intend making a reality from our investment, not by thinking of profit all the time, that may compel an investor to sell prematurely for minimal gains.

[SmartCharpa]

Anyone who invest in bitcoin do it for the sake of profit, so if anyone will come out and say he did not invest to get profit honestly I may not disagree with that statement reason is that, there are some people who are into the bitcoin investment just to save money, but they are not many. People who are investing now do it for porfit, that is why you will see that they invest for a long period of time, because we all know if it’s take that time they will make some good profit from their investment. So

So the fact is that, people who invest without the intention of profit are not many and it was before, everybody is now doing it for for money.

No one invests in Bitcoin just because they want to invest in it. Even those who don't understand Bitcoin aim to make profit from Bitcoin investment, and even those who understand Bitcoin don't invest in it because they just like Bitcoin; it is the profit and value that attract people to invest in it.

The reasons why people invest in Bitcoin are as a store of value, which they buy Bitcoin they never plan to use, and this Bitcoin can be theirs for a long time. Some people invest in Bitcoin because they see it as an investment that can be held for a long time until they are ready to make a profit. So, the goal of investing in Bitcoin is just to make a profit and nothing much more.

For sure bitcoin investment comes with profit but then that shouldn’t be that actual aim why you go into it. Bitcoin investment should be consider as your future, it like making plans and securing you future. I know A lot of people go into it just to make profit and they are actually getting misled, they need to have a mindset of what bitcoin investment actually means.

You know when you go invest in bitcoin for the profit your emotions tends to get attached to it and you are likely to make a wrong decision in the future.

I agree that the aim of going into bitcoin should be to secure our future and have a hedge over inflation and all that but how are you securing your future?…. If you look at it very clearly it’s through the profits that you make from your investments, if there’s no profits in the investment then your plans have failed. If you’re experiencing a loss of investment it’s no longer a secured future until there’s a profit.
So those who say they go into bitcoin for the profits are also right in their stands. Going into bitcoin for profit doesn’t necessarily mean I’ll be agitated and emotional about it.

Though, nobody wants to invests in something where they will never get anything in return, the history of bitcon and how people have become successful through it is what gives people more confidence to believe its future worth investing. But we should also remember that Bitcoin investment does not move the way some people think, there’s a time where we can experience some dip, but that doesn’t mean we are losing our money, that is normal thing because is also part of the journey.

However, long term investors do not talk about profits, if we talk about profits when it comes to Bitcoin, then I believe that every newbies willing to invest will believe its future profits are guaranteed. The future profits are not guaranteed because there are also the chances of losing everything. The best thing is to keep buying and see what the future holds.

[Derekfunds]

Sure, everybody with their respective reasons and opinions why investing their money in Bitcoin, some are there to take quick profits and walk away while some are there to protect their fund's against inflation but the underlying fact still remains  that one must have a desire expectation before even thinking of investing in Bitcoin.

However,  making profits shouldn't be the only reason we do invest as earlier said above by proty because their are also some unique functions of Bitcoin like making our financial decisions ourself without the interference of a third party, and also it served as a store of value and so on.  Furthermore Bitcoin can enhance global transactions without experiencing any form of network disruption of any kind, it also has a very lower charges fees unlike our local banks, what more can I mention to prove my point? It's just what the society needs to make life more easy.

I totally agree with your sentiment here that investment in bitcoin should not only be because of profit because if we are only concerned about profit, we are likely going to sell too early once their is a spike in price and we fell that we are in a serious profit, but if we invest with the aim of building a generational wealth with it, or use it as a store of value, we are definitely not going to be thinking of selling prematurely since we have a big ambition we intend making a reality from our investment, not by thinking of profit all the time, that may compel an investor to sell prematurely for minimal gains.

It is not even possible for folks that called himself or herself an investor to be thinking about profit all the time, I have not seen that and I don't think an investor will even do that because this is what traders do, they are always thinking and monitoring the market so that any slightest positive movement of Bitcoin they will quickly sell. So it's not really about having the idea to build generational wealth from Bitcoin because anyone can have this mindset at their peripheral and not really determined to do it.

[ChocolateBitcoinK]

Sure, everybody with their respective reasons and opinions why investing their money in Bitcoin, some are there to take quick profits and walk away while some are there to protect their fund's against inflation but the underlying fact still remains  that one must have a desire expectation before even thinking of investing in Bitcoin.

However,  making profits shouldn't be the only reason we do invest as earlier said above by proty because their are also some unique functions of Bitcoin like making our financial decisions ourself without the interference of a third party, and also it served as a store of value and so on.  Furthermore Bitcoin can enhance global transactions without experiencing any form of network disruption of any kind, it also has a very lower charges fees unlike our local banks, what more can I mention to prove my point? It's just what the society needs to make life more easy.

I totally agree with your sentiment here that investment in bitcoin should not only be because of profit because if we are only concerned about profit, we are likely going to sell too early once their is a spike in price and we fell that we are in a serious profit, but if we invest with the aim of building a generational wealth with it, or use it as a store of value, we are definitely not going to be thinking of selling prematurely since we have a big ambition we intend making a reality from our investment, not by thinking of profit all the time, that may compel an investor to sell prematurely for minimal gains.

Those who always think too much about price and always worry too much about volatility are likely to panic at the sight of even a little volatility, and because of this unnecessary worry, they can never be effective in maintaining long-term investments. If we can set our thinking completely long-term and be very firm about long-term goals, then only we have a good chance of long-term survival. In fact, the more we think, the more likely we are to fail, that is why after setting long-term goals, we should stay away from any kind of overthinking about price. The more we are free from thinking about price, the more likely we will be to survive.

[Grease5000]

The escalating situation in Iran suggests that BOTH Bitcoin investors who like to Buy the DIP and DCA will get more opportunities to purchase more coins with a discount.
 
How low is the discount? No one could predict such things, BUT place your bids and when filled, THEN HODL. Don't let the billionaires buy all of the coins with a discount. Save some of your monthly salary and buy some for yourselves too.

If guys are ongoingly buying, then they are likely going to end up buying any further dip if it happens.

[edited out]

I agree that the aim of going into bitcoin should be to secure our future and have a hedge over inflation and all that but how are you securing your future?….

There is no need to think about profits if you are building your bitcoin holdings.

If you look at it very clearly it’s through the profits that you make from your investments, if there’s no profits in the investment then your plans have failed.

There is no guarantee of profits in the future and there is no guarantee that your investment won't fail, yet guys invest into bitcoin for reasons other than number go up.  Some guys learn about hedging, insurance and other reasons to allocate into bitcoin as compared with other places that they might put their time, energy and value.

If you’re experiencing a loss of investment it’s no longer a secured future until there’s a profit.

You sound lost.  Your investment can be secured in a variety of ways, including how you chose to hold them.. .and also giving you options when you privately hold them as compared with if you don't privately hold your bitcoin.

So those who say they go into bitcoin for the profits are also right in their stands.

If they are only focused on profits, then they are likely to make mistakes since they are like little babies who only can think in terms of concrete matters, and they have no ability to think beyond what they see in front of them.  Have you ever heard of abstract thinking?

Going into bitcoin for profit doesn’t necessarily mean I’ll be agitated and emotional about it.

Yes.. it is a starting point for babies.  They start out thinking about number go up technology, and they realize that there is more to bitcoin beyond which direction the price may or may not go and how they deal with such price movements.

Guys who spend 1-2 cycles or more building up their holdings, they might not be looking too closely at the extent to which their bitcoin holdings is in profits or not, even though there surely isn't anything wrong with keeping track, as long as they don't get distracted by such superficialities.

[edited out]

Most individuals don't begin investing with fully mapped out plan they see things out as they go and their objectives evolve with experience, income and market reality the example of going from $30k to aiming for $80 through Bitcoin is very a good one more as a reference point than a fixed target it gives people something tangible to think about even if they later adjust it up or down at the end of the day the real value is in having some direction even if it is perfect instead of relying on a perfect plan that may never came through.

Sure start out with a ballpark idea of where you want to go, yet your plans about how to get there are likely more concrete and filled with action, such as buying bitcoin every week... and then so every year or so, there will be abilities to measure progress and to make adjustments from time to time in order to improve the progress (or to reassess the progress).

I understand that it can take a while to learn, and surely there are a lot of folks who really think in a kind of gambling way, which might be that so many folks do not even know how to invest.. and so if we have even a lot of newbies into bitcoin who have never invested, then they might have some difficulties figuring out how to get into the right kind of a mindset.

Whether on this forum or even in real life, I try to suggest that guys ease into building getting started, so then once they get started buying every week or whatever, then maybe at some point they can ramp up their level of investing, and it can even take a bit of time to get some accounts set up or to figure out from where they might source their coins in the beginning... yet of course, on the forum, we cannot necessarily know the options that might be available to people in differing geographical locations - even though in recent times, I have not really seen too many members complaining about their coin sourcing options .. even though surely it can be a bit of a factor to figure out in some locations.

I am also quite accepting of the time it requires to learn things, but we live in a bit strange times or the information connectedness has made us more aware of many people who are this way. Not so long ago it was considered wise to listen to older people with experience or simply those that have a lot of experience in a certain field. Now it seems that many people refuse to do that and have a right now I know what I am doing style that is similar to gambling or degenerate. Like I gave one example, I have others through my life where I warned people of not investing in some scams like 1% guaranteed return daily. Very few have actually heeded the warnings on time despite having no experience in that field. I did give them proper educational warning and not something insulting like just saying don't be stupid, don't do that. Sometimes I find it a bit sad that one help many people this way at all these days   but in the end everyone is responsible for their own decisions. It is on us to try to help others and educate them, and it is on them if they don't want to listen.

Sure, social interactions are changing based on changes in the way that information is available, and even break down of the family has been happening for a long time... so there has always been changes going on, and surely there is a lot of importance in critical thinking and discernment of information, and sometimes young  people might not realize some of their mistakes, but they also might have difficulties relating to some of their elders too...

I recall that I went through various phases of not wanting to listen to anyone else, which resulted in a lot of mistakes, but then some mistakes are more problematic than others in terms of screwing up future prospects, whether referring to finances or other life choices.

You are wrong when you are suggesting such high focus upon "profits".. so in that regard you seem to be unable to discuss the matter properly because you cannot even remove yourself from a trader mentality... so then you proclaim that everyone has the same mentality about profits, when they don't.

It is quite unusual for the user to suggest that speculation is necessarily where the history of Bitcoin and data about it shows is that those that don't speculate and just invest for the long term have significantly outperformed everyone.

We cannot really guarantee that the long term ongoing accumulation is going to continue to be profitable, and we might even assert that the future bitcoin price slope might be less steep than it has been historically, yet at the same time, there is no real data to support any assertion that bitcoin's investment thesis is weakening with the passage of time, so in that sense, even a brand new bitcoiner should consider figuring out ways to get started investing into bitcoin and to focus on trying to figure out ways to ongoingly accumulate bitcoin within an amount that they consider to be workable for their own cashflows, and surely there are some guys who have very little back up funds, and they likely need to make sure that they have back up funds if they are going to be investing into bitcoin for long periods forward, since there surely can be challenges to have a lot of confidence about not being tempted to tap into our bitcoin investment if we are not putting systems/practices into place that gives us some cushion in the event that our income might go down and/or our expenses might go up and we want to be able to continue to build our bitcoin for 4-10 years or longer, even if there might be some periods in which we might not be in a position to continue to add to our bitcoin stash that we are hopefully ongoingly building until it gets to a reasonable decently sized amount.

We can't guarantee anything, that is correct however still it would be quite unusual to suggest something that has never been proven to be the superior strategy. One could say a change is coming sure, but one can't have too much certainty and give it off as if it is going to be a sure thing. We know that historically DCA and holding has outperformed traders and speculators on average, actually this happens also in other markets. I recall some studies that were done that found this out, and other studies have replicated those findings. Here is an article about it https://tradeciety.com/24-statistics-why-most-traders-lose-money. Especially also when you consider people who do not have experience trading and speculating in any market at all, they should not really receive that advice in my view.

This is an investment thread, so there  is no reason to talk about or to promote trading, and sure there are some guys that might get distracted by the title of the thread, even though a lot of guys who are active in this thread consider DCA to be a likely preferable strategy since they are able to adjust their ongoing investment amount and their level of aggressiveness based on their own cashflow situation, and DCA is really good for doing that on an ongoing, persistent, consistent and regular basis.

Trading in Bitcoin but even worse in crypto which is what many normal people who call themselves traders in this space also do is very risky, for shitcoins it is like playing in a casino. It works well until that one moment where everything is lost and one can never recover to that point unless you put in a lot more money to buy back everything that you have built.

There are some folks who have somewhat degenerate personalities, yet if they could figure out how to at least limit the amount of their exposure to either trading and/or to shitcoins (perhaps to less than 10% of the size of their bitcoin holdings, then they might have some chance of learning their way out of such bad habits, yet so many times, there can be difficulties for guys to limit their own bad habits.. since they might have inclinations to go beyond their self-imposed limits, and then it just becomes an ever growing devolution.. that they might not be able to control.. so yeah, it can be difficult for guys who already have such gambling inclinations.

Yeah, I mean I have even had people who held fair portions of Bitcoin and some shitcoin. But they didn't have any defined limits. So once their shitcoin performed well most likely to luck they got a taste of what seemed easy money and transferred most of the stack into it hoping to make even more money. It didn't end so either. Now that I am writing this, it seems that almost any combination of anything has been tried especially degenerate things.

There is likely nothing wrong with some experimenting so long as people can limit their experimentation, yet part of the problem is that gambling tends to have a devolving effect in which the gambling gets worse and worse and worse.. so then yeah, they end up fucking up by going beyond the limits that they might have initially set for themselves.  There is only so much that can be done to save folks from their own dangerous and/or self-destructive inclinations that involve getting greedy and not making sure to impose their own strict (and self-imposed) limitations.

Perhaps that also shows that many people have an issue with patience? Monthly or weekly DCA especially one that is automated with some platform or tools can be seen as quite boring compared to the shitcoin or futures roller coaster. Perhaps with so much addiction to gratification these days, one of the best strategies is simply too boring for many? What do you think about this possibility?

I understand that people have defects and even inclinations towards short attention spans, including expecting short term results, yet patience can be learned through practice... which likely also includes attempting to come at bitcoin in a modest way and to build up incrementally... but yeah, normies are going to be ongoingly tempted by distractions.. and it is not easy to stay focused.. whether it is $100 per week, $10 per week or some other reasonable amount that also allows them to have money to put into their back up funds and also to have money for any discretionary consumption that they might want to do within the process, too.

I believe that there are actually very few reasons to stop accumulating. Sure we can think of specifics like reaching your own goal, the old established goal but why stop there?

Of course, each person has to consider his own situation and the extent to which it might be practical to change his goals (to make them higher) once he had already reached them.  Surely I understand that sometimes guys might set their goals too low, so there can be some reasonable basis for making the goals higher after they had been reached... and so surely the guy has to account for his own factors.. and then what it might mean to him to continue to want to accumulate more bitcoin when he may well have enough and/or even more than enough... and so maybe it is difficult to talk about these kinds of ideas in the abstract, since if we are working with a set of particulars, we may well recognize and appreciate how at some point enough, should be enough, and getting to the status of enough could open doors to have the freedom to quit ones job and to be able to live off of his bitcoin for the rest of his life.

Of course, your registration date is less than a year ago, so maybe we need to use a guy with a longer history, and sure we can change around the particulars, yet I am trying to show at what point a guy might have had reached enough or more than enough.

So, let me use an example of a guy who perhaps came to bitcoin in his mid 30s towards the beginning of 2016, and at that time, he had been perhaps attended some college, and he had been working for the past 10 or more years, and maybe he had some success and/or not, yet his income was around $30k per year, and his then investment portfolio was around $45k.. .. so he was not in a bad place, but he still wanted to be able to retire in his early to mid-50s, so maybe he first heard about bitcoin around that early 2016 time, so   he considered that maybe he could take around $10k from his already existing investment portfolio and put that into bitcoin, and otherwise he would continue to invest in bitcoin at a pace of around $100 per week (which was around 17.33% of his income).

He started out by investing the $11k in bitcoin between January and March 2026 - so he accumulated 27.25 BTC

Then thereafter starting from April 1, 2016 until now, he invested $100 per week into bitcoin, which added up to another $52k invested and 12.1 BTC.

So up until now he had invested right around $63k into bitcoin and he has 49.35 bitcoin.  I have a hard time concluding that the guy does not have enough or more than enough bitcoin, since his income was $30k per year, and perhaps his goal would have had been to have an income of around $80k per year and not having to work, yet right now he could get a sustainable income of $80k per year for right around 15.2 BTC per year

Yet, right now his 49.35 BTC will support an income that is about 3x his goal and right around 8x the $30k per year income that he had been making.  Sure, the guy is in his mid to late 40s because he is 10 years older, yet he is also ahead of schedule in terms of options.

You can quibble with the example, yet my main point is that there can be enough or more than enough, whether the person might be wanting to merely replace his current standard of living or perhaps to increase his standard of living by some reasonable multiple higher.  If the guy says that he is not going to stop untiil he is a billionarie, or that he is making over a million per year from his bitcoin, then he has a right to do those things even though they might not be necessary, especially some folks do not necessarily want to change their llfestyle in magnitude kinds of ways.

It is hard to talk about this in an abstract way, you are right on that because it depends on so many things and the details of each person. What I could maybe say in general there that applies is that whatever goals have been set and even more if they are far into the future, the strategy and goals will need revisiting and adapting. They may not necessarily be big changes, but like we gave the example of someone who is now earning considerably more than when they set the goals then they would have to adapt it upwards in this case.

Of course, at any point in time in the life of a bitcoin investment, the short term goals are going to be more concrete, which would be making sure to be able to pay the monthly bills and to monitor cash short falls that might be coming up in the next 3-6 months.., and personally, I have found it to be quite useful to project forward my cashflows for 1 months or more, and surely the more complicated the income/expenses, then the more important to include the various details and the more need for cash cushions.. yet at the same a projection of cashflow is going to be specific and accurate when it is 1- 3 months out, yet when it is 18 months out it might merely have more rough estimates... so as the time is passing then more months are added onto the projections and as the months pass, then months that were further out end up advancing to places in which they are more important to be accurate and precise, since if I had projected out that I had $2k coming in, but it only ended up being $500, then I am kind of fucked in the way that I projected out too generously, so it is better to underestimate the income and over estimate the expenses and to see that it still works ... and we get better at making such projections with practice.

The far out future, such as 5 years or 12 years or 20 years or further, there might be projection that show base case scenarios, worst case scenarios and best case scenarios.. and there might even be some other scenarios that are projected out and they surely are more ballpark ideas rather than precise the further out the projections.

For the example given, it is a good one and I'm actually also surprised that in such a short time span so much Bitcoin would have been accumulated. That was a good time to buy Bitcoin! That said, I didn't mean to say that there is no reason for anyone to stop at all in any case. It was more my personal view. I want more Bitcoin, but I am into Bitcoin I am not here just for the concept of investment. I do not plan to retire early like that guy, I like the work that I am doing it is quite fulfilling. So what would I do with all that spare cash?

Having extra cash is a good problem to have... and so each of us can decide how much of our extra cash we are putting into 1) investing, 2) savings (back up funds) and/or 3) discretionary consumption

If you have too much extra cash, then that is not a bad problem to have.. but yeah, if you don't spend it or invest it, then it is going to lose value.. so it gets to be a bit of a problem if you cannot figure out what to do with such extra cash, even though I doubt that very many folks consider having extra cash as if it were really a bad problem to have.

I do not like to waste it on overpriced items that are worth it, and neither is over-consumption of anything good including traveling. It is quite possible to reach a state that one would simply have money losing value in fiat, so what else one would do if they were like me than to accumulate more of other things even if old goals were met?

There are people who are holding onto too much cash, and surely that cash is likely losing value.  Many guys  here would put extra cash into bitcoin.. I surely cannot solve that problem for you if you canont conclude that bitcoin is a good place to put your extra cash.

So for example, if you have too much cash and you also have too much bitcoin, then you have to figure out some other place to put it.  I am not going to make any suggestions, since I am having difficulties believing that you don't know where to put your extra cash - especially since bitcoin seems to be the obvious place to put any extra money, which causes me to speculate that you might not understand bitcoin very well if you cannot recognize and appreciate it as being the place to put any extra money that you might have.

Geopolitical tension create volatility, and volatility creates opportunities. But no one can predict how low Bitcoin will go and waiting for the perfect time  mean missing it.
That is why smart investors use DCA to buy bitcoin they buy with a plan and accumulate and hold for the long term. Billionaires don't just win because of money the win because they are patience and confidence and you can do the same by buying using DCA. By buying small amount regularly using discretionary income.
In the long term it not about catching up but staying in the game and stacking up

[B-BossMan]

For the example given, it is a good one and I'm actually also surprised that in such a short time span so much Bitcoin would have been accumulated. That was a good time to buy Bitcoin! That said, I didn't mean to say that there is no reason for anyone to stop at all in any case. It was more my personal view. I want more Bitcoin, but I am into Bitcoin I am not here just for the concept of investment. I do not plan to retire early like that guy, I like the work that I am doing it is quite fulfilling. So what would I do with all that spare cash?

Having extra cash is a good problem to have... and so each of us can decide how much of our extra cash we are putting into 1) investing, 2) savings (back up funds) and/or 3) discretionary consumption

If you have too much extra cash, then that is not a bad problem to have.. but yeah, if you don't spend it or invest it, then it is going to lose value.. so it gets to be a bit of a problem if you cannot figure out what to do with such extra cash, even though I doubt that very many folks consider having extra cash as if it were really a bad problem to have.

I do not like to waste it on overpriced items that are worth it, and neither is over-consumption of anything good including traveling. It is quite possible to reach a state that one would simply have money losing value in fiat, so what else one would do if they were like me than to accumulate more of other things even if old goals were met?

There are people who are holding onto too much cash, and surely that cash is likely losing value.  Many guys  here would put extra cash into bitcoin.. I surely cannot solve that problem for you if you canont conclude that bitcoin is a good place to put your extra cash.

So for example, if you have too much cash and you also have too much bitcoin, then you have to figure out some other place to put it.  I am not going to make any suggestions, since I am having difficulties believing that you don't know where to put your extra cash - especially since bitcoin seems to be the obvious place to put any extra money, which causes me to speculate that you might not understand bitcoin very well if you cannot recognize and appreciate it as being the place to put any extra money that you might have.

Good you are absolutely right, unfortunately holding too much cash on without putting it to useful something or investing it into something valuable over a period of time, most expecially the inflation reducing purchases power constantly, that is, the value of cash money decreases, because for example $10 today might only buy something of what $8 dollars bought as of years ago, how would it be helpful in your life. The more cash you keep, the higher it loses its worth or value. So instead of people should allow thier cash money to stay with them and depreciate its value,it better to channel the money into an asset such as Bitcoin, which has proven its growth values over time, despite its volatility. Though it's limited supply of 21million coins and its the only cryptocurrency that play its role in increasing its long-term value.

However, it's also important to deal with cash, depending on individuals differences, people should know how to balance thier financial goals, that is, you don't need to put all your money into Bitcoin investment, keeping a little cash aside for an emergency reserve, it's also a smart movement. Some newbies can also approach it by investing thier 40 to 50% of thier extra funds by using the Dollar-Cost Averaging strategy or method. This strategy helps the newbies to accumulate bitcoin gradually and rlalso reduces the market risks,so DCA is the or serves as disciplined way for newbies to invest over time.