an important reminder : accumulate bitcoin.

[bitmover]

We are living in a real crazy moment of mankind. Everyone in home, afraid  financial collapse.
Bitcoin wasn't hit as hard as the stock market: 40% down is normal to us. But it is not normal for sp500.

Let's not forget to accumulate bitcoin in these times. People may be trading a lot, but accumulating btc for the next 20 years is my ultimate  goal.

Kiyosaki shared this opinion recently. He believes  in an alternation of bitcoin gold and is by the year 2040. We are here for long term.

https://cryptopotato.com/rich-dad-poor-dad-author-in-these-times-this-is-why-you-want-to-accumulate-gold-or-bitcoin/

According to prominent American businessman and author, Robert Kiyosaki, people should avoid saving cash. Instead, they should focus on accumulating more gold (God’s money) or Bitcoin (people’s money).

...


Bitcoin And Gold Will Outlive USD

This is not the first time Kiyosaki attacked fiat currencies and the USD in particular. A few years ago, he signaled that the financial world will experience serious alternations by the year 2040.

He predicted that gold since it has been here “for eternity” will still play an active role. He had a different view on the dollar, however:

    “Will the dollar be here? I don’t think so. The dollar is toast because gold, silver, and cyber currency are going to take it out.

    The U.S. dollar is a scam. I think we are watching the end of the dollar. That’s what I’m saying.”

He continued by indicating that blockchain will be here in twenty years. Moreover, he admitted that he owns some bitcoins and even Ethereum.

[Jet Cash]

I'm not sure about accumulating for 20 years, but I agree we should be accumulating for 2-5 years.

[virasog]

We are living in a real crazy moment of mankind. Everyone in home, afraid  financial collapse.
Bitcoin wasn't hit as hard as the stock market: 40% down is normal to us. But it is not normal for sp500.

Let's not forget to accumulate bitcoin in these times. People may be trading a lot, but accumulating btc for the next 20 years is my ultimate  goal.

Kiyosaki shared this opinion recently. He believes  in an alternation of bitcoin gold and is by the year 2040. We are here for long term.

No one is here for 20 years investments. This is a very long time. I can hold by bitcoins for another 1- 2 years and I am hopeful we will see the bull run before this time. If you are holding for bitcoin for 20 years, it is also very risky because you never know whether bitcoin will exist that time or there maybe something new,  currency which we can't imagine now.

[Coyster]

...This is a very long time. I can hold by bitcoins for another 1- 2 years and I am hopeful we will see the bull run before this time. If you are holding for bitcoin for 20 years, it is also very risky because you never know whether bitcoin will exist that time or there maybe something new,  currency which we can't imagine now.

20 years isn't too long as you imagine it, for a young man like myself, if  I can accumulate a whole lot of bitcoins in the next twenty years, by then I'll be entering the mid part of my life then it is a good investment plan imo. The risk is not determined by how long you hold, you can hold for two or twenty years, you're still likely to be affected by the risks involved.

No one is here for 20 years investments.

Many are. There are many users who are accumulating bitcoins as a form of post-work, retirement plan. Eleven years ago, only very few could foreshadow bitcoins growth today, so also is the case in the next two decades.

[virasog]

No one is here for 20 years investments. This is a very long time. I can hold by bitcoins for another 1- 2 years and I am hopeful we will see the bull run before this time. If you are holding for bitcoin for 20 years, it is also very risky because you never know whether bitcoin will exist that time or there maybe something new,  currency which we can't imagine now.

20 years isn't too long as you imagine it, for a young man like myself, if  I can accumulate a whole lot of bitcoins in the next twenty years, by then I'll be entering the mid part of my life then it is a good investment plan imo. The risk is not determined by how long you hold, you can hold for two or twenty years, you're still likely to be affected by the risks involved.

Well how young you are ? If you are 15, after 20 years you will be 35. That's fine.

Most of the people are in the ages from 25-35 and if you add 20 years in that it will be like 50 years, when we are too old. Also we never know how long can we live these days due to the biologicals wars and coronavirus.

[mk4]

No one is here for 20 years investments. This is a very long time. I can hold by bitcoins for another 1- 2 years and I am hopeful we will see the bull run before this time. If you are holding for bitcoin for 20 years, it is also very risky because you never know whether bitcoin will exist that time or there maybe something new,  currency which we can't imagine now.

20 years might be a long time, but I personally think 1-2 years is still quite short-sighted. In my opinion a minimum should be like 5 years. Also, are we really all into Bitcoin solely for investment purposes? The really passionate Bitcoiners surely does seem to be a dying breed huh.

Relevant:

[BITCOIN4X]

Cryptocurrency assets are assets that are highly volatile and full of speculation. Prices continue to change based on demand and supply on the exchange. If demand is high then prices will also go up and vice versa.

Crypto investment must be done on sustainable manner, because I think investing your money in cryptocurrency and saving it for a long period of time like 10-20 years will not guarantee that investors will get a lot of profits. Cryptocurrency price movements have the same cycle every year, prices can go down and can also increase based on the activity of buyers and sellers on the exchange. If I have to choose, then I will choose 1-2 years as the right investment time to do.

[Pffrt]

20 years? That will be too far I think because within this years something new isn't impossible and over the time, btc will be less valuable or vanish. That will be a very risky decision. I am targeting 5 years at max.

[Lucius]

It may sound strange to someone that they plan to accumulate BTC over the next 20 years, but of course it depends on how old they are (if they only consider themselves) or someone may do it for their children and grandchildren. However, I think that some things will be much clearer in the next ten years, as Satoshi himself wrote something in the sense that there will be a lot of transactions, or there will not be any at all.

Probably none of us will experience the time when the last BTC will be mined, but most of us will be here when 99% of BTC is mined (around 2032), and even before that, smaller quantities of fresh BTC will flow into the market due to halving/s and probably more holders. At that time I hope we will not need to convert BTC to fiat to pay/buy something, because BTC will be available everywhere as a payment method.

[ReiMomo]

I agree on the long term purpose of holding, we should understand the demand and supply that makes Bitcoin price pump. Every now and then, many people were getting in touch with Bitcoin and starting adopting it. Of course, they will invest too and hold some. When the massive adoption will start it will surely pump anytime. So, just invest in what you can afford but not rely on it for your monthly allowance or maybe paying monthly bills.

20 years is too far but this is a good time when you are aiming for a high profit on Bitcoin. Accumulating as of now is the best opinion and I agree with what OP's said. Newbies should understand this.

[hugeblack]

Do not forget that you are in a turbulent world and that Bitcoin is still weak. "The market capacity did not reach safe limits." Therefore, you must think about the present and what surplus money you have that can be saved for the future.
People need to buy the basics, which may suffer from scarcity if the crisis persists, so keep your fundamentals and leave the surplus for the future "Maybe BTC is the best investment, but there are many other options."

Gold is a safe haven as your assets will be frozen with some gain, but it is not the most profitable investment tool.

[virasog]

No one is here for 20 years investments. This is a very long time. I can hold by bitcoins for another 1- 2 years and I am hopeful we will see the bull run before this time. If you are holding for bitcoin for 20 years, it is also very risky because you never know whether bitcoin will exist that time or there maybe something new,  currency which we can't imagine now.

20 years might be a long time, but I personally think 1-2 years is still quite short-sighted. In my opinion a minimum should be like 5 years. Also, are we really all into Bitcoin solely for investment purposes? The really passionate Bitcoiners surely does seem to be a dying breed huh.

Relevant:

I already hold bitcoins and wait for 3 years and i would wait another 2 years, so it will be ideally 5 years and I should get the reward of waiting and holding Bitcoins, shouldn't I ?

[Upgrade00]

Imo, the concept of hodling for up to 20 years does not explicitly mean one would hodl onto their entire stash for the next 2 decades. It could mean that you would remain in the cryptocurrency space for that period of time. During which you can engage in trading, mining or any other means of increasing your portfolio.
You can also sell a portion during this time, if the need arise. But I doubt any one of us plans on selling out in the next couple of years and leaving Bitcoin and this forum behind permanently.

If you can hold onto at least ~20% of your acquired Bitcoin every month for the next 20 years, you would realize a large sum at the end.

[hatshepsut93]

How are people going to accumulate Bitcoin if so many lost their jobs and need to keep covering their spending and need to have some money saved in case of emergency, which can easily happen right now in the face of covid-19. It's easy to imagine a nightmare scenario when someone keeps buying Bitcoin with their last money, then Bitcoin randomly drops again and they now don't have enough money for treatment. My advice is, only accumulate if you can afford it, especially if you can afford this worst case scenario without going broke. There will be safer times in the future.

[LTU_btc]

How are people going to accumulate Bitcoin if so many lost their jobs and need to keep covering their spending and need to have some money saved in case of emergency, which can easily happen right now in the face of covid-19. It's easy to imagine a nightmare scenario when someone keeps buying Bitcoin with their last money, then Bitcoin randomly drops again and they now don't have enough money for treatment. My advice is, only accumulate if you can afford it, especially if you can afford this worst case scenario without going broke. There will be safer times in the future.

Good point. Probably now it's too late for some people to collect Bitcoin, some already lost their jobs. People had to think earlier before crisis. IMO, people always need to prepare savings for a bad times. Then it will be easier to survive such situations like we have now. Offcourse, not everyone can do it, especially these who live in poor countries. They spend all money for their daily needs and have no spare money.
And I don't think it would be wise decision to put your lifetime savings into Bitcoin, especially for long period like 20 years. It's too vulnerable. I think it would be better to divide savings into objects like gold, real estate, Bitcoin.

[bdbountyon]

I don't find any reason to accumulate bitcoin. People have no money in this situation. This is the worst scenario in history of cryptocurrency. If I had money then I should use it for living not for trading or investing. No one know what will happen after the end of calamity. Holding crypto is not a wise advice in my mind.

[pooya87]

Bitcoin wasn't hit as hard as the stock market: 40% down is normal to us. But it is not normal for sp500.

an excellent point which people who love comparing the two markets and are trying to convince us that bitcoin is following that are always forgetting.
even if we wanted to compare the two we should convert the percentages to bitcoin scale then compare them. for example daily fluctuations in a big market such as stocks is a lot less than 1% while in bitcoin a normal daily fluctuation that can easily be ignored can be as big as 10%

so by comparison to scale if S&P 500 dumps 38% then bitcoin should dump at least 85% to be following it.

Let's not forget to accumulate bitcoin in these times. People may be trading a lot, but accumulating btc for the next 20 years is my ultimate  goal.

20 years seems too long. i don't think it would take that long either. in the second decade i'm sure we are going to see a much bigger adoption all around the world. in fact i still believe 2020 is going to be a big record for bitcoin adoption. we've already seen a couple of huge adoption news this year which was swept under the rug by the FUDsters. for example the news about French court accepting bitcoin as money.

[Raytheon]

[...] accumulating btc for the next 20 years is my ultimate  goal.

I am not sure if you're serious on this but 20 years is 1/4 life time to talk about. Imagine if you were an early bitcoin adopter and had a bunch of bitcoins since 2013 or 2014. Could you restrain yourself from cashing out when bitcoin reached ATH in late 2017? So many things can change in 20 years. Yahoo, Nokia don't even need the exact amount of time to become a part of history. I'm a bitcoin lover but I'm not even sure if bitcoin could remain its stance in next 20 years.

[...] or someone may do it for their children and grandchildren.

If you save gold to your children, you only need to tell them where you hide it. Saving bitcoin then don't forget to instruct them how to use Electrum in your testament.

[hd49728]

Accumulate bitcoin, it is definitely what I will do in next 5 years, to have enough money to buy a house for my small family. But my plan is different a little bit. I will cash out profits from my investment in Bitcoin and crypto, gradually. At the stage, when I withdraw the whole capital I use to invest in bitcoin and crypto, I will stop cashing out and will hold my coins as long as possible. It is a type of whole-life investment.

I agree that bitcoin is "still weak in a turbulent world" (as @hugeblack said) and a very volatile market so I do have my plan B.

[cryptoaddictchie]

On my current age, Im not sure if holding it for 20years would still benefit me a lot. But I am indeed accumulating for 2 to 3 years and budget it and divert to a more comprehensive investments.

I don't find any reason to accumulate bitcoin. People have no money in this situation. This is the worst scenario in history of cryptocurrency. If I had money then I should use it for living not for trading or investing. No one know what will happen after the end of calamity. Holding crypto is not a wise advice in my mind.

There are different perspective about bitcoin, but the currwnt situation woulndt stop people from investing, as they know that opportunity like this comes once every blue moon. I get your point about spending it on living with the current state we are, but some people here have funds for that matter which segregate their financial plan to their daily expenses fund. That's your opinion and will be respected.