JJG’s Outline of Bitcoin Investment Ideas

[Brizi5000]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

Yes you are right, it is good that even if we  are getting paid every month from work and we want to buy and invest in bitcoin we shouldn’t use all our monthly salary to buy bitcoin and forget about our basic needs. It will be very bad for us to do so because in the future it will surely tell on us. What investors should do first when they receive their salary is to first of all settle their basic financial needs or expenses and after doing that, the money left with them that is the discretionary income should be put for the bitcoin investment and any other back up or emergency funds for the bitcoin investment to still go forward.

[Saltysugar99]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

I don't really understand why you are not in favor of buying Bitcoin from your salary. If someone has all their necessary expenses covered with their salary, whatever extra money they have is discretionary income. And there is no problem in investing in Bitcoin with that discretionary income.

[NewRevelation]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

I don't really understand why you are not in favor of buying Bitcoin from your salary. If someone has all their necessary expenses covered with their salary, whatever extra money they have is discretionary income. And there is no problem in investing in Bitcoin with that discretionary income.

It's just a simple and clear issue. They are two different words, salary and discretionary, and of course, discretionary comes from salary, which is the money remaining after sorting out basic necessities. I guess what Cossyblack was saying is that Fakhrulenclix didn't mention buying bitcoin using his discretionary, but just said that when he is paid, he accumulates Bitcoin not minding the current price. of  course, he could be doing that with his discretionary, but for clarity sake, he should rather say... When am payed, after settlement of basic needs, and my discretionary is made available, I accumulate Bitcoin no matter the current price through the DCA.

[Derekfunds]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

Yes you are right, it is good that even if we  are getting paid every month from work and we want to buy and invest in bitcoin we shouldn’t use all our monthly salary to buy bitcoin and forget about our basic needs. It will be very bad for us to do so because in the future it will surely tell on us. What investors should do first when they receive their salary is to first of all settle their basic financial needs or expenses and after doing that, the money left with them that is the discretionary income should be put for the bitcoin investment and any other back up or emergency funds for the bitcoin investment to still go forward.

You are absolutely correct and above all our expenses should be our number one priority before thinking of investing in anything with our discretionary and over time I realized the reason some people panic or sell when they are not even supposed to is because they mispioritize things which is forcing out a discrestionary income without attending to their needs first and this is all wrong and when this is been done there is every possibility this folk will always panic or even sell and this implies lack of knowledge and sometimes it is an act of trading.

[Ryu_Ar1]

Even if you claim to be investing without accounting for discretionary funds, it sounds to me that the 10-15% that you are investing is from discretionary funds, since the 85% to 90% is covering all of your expenses, so your discretionary funds ares greater than 10-15% of your income.. and the portion that you are investing from is coming from your discretionary funds, even though you claim to not be account for it.

From your discretionary funds, you can invest, save and/or use for discretionary consumption.

The non-discretionary funds covers all of your basic expenses... so if you were using money that you need for your expenses, then you are going to end up getting yourself in trouble.

Of course, you could have large enough back up funds so that you end up having money to cover your expenses in those instanaces that your income is low and/or your basic expenses are high.

This might be a consideration (although not initially) because I feel that 10-15 % is still enough for me to be able to invest comfortably with enough consistency for me and I'm not too worried about my life and needs we have.

Maybe the downside here is that it will take me a little longer to invest because it is certain that the smaller your ratio in investing the longer it will take especially if we want to achieve a goal such as 1 year of income for investment and even more than that.

On the one hand this is also a good thing because for me being and investing is not a race, as long as we are able to do the best for the future then we should do it even though it's definitely not easy because we have to manage income and expenses as much as possible but when we are disciplined I'm pretty sure that time will come and we can talk about the ideal financial freedom that we always discuss.

[Proty]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

Yes you are right, it is good that even if we  are getting paid every month from work and we want to buy and invest in bitcoin we shouldn’t use all our monthly salary to buy bitcoin and forget about our basic needs. It will be very bad for us to do so because in the future it will surely tell on us. What investors should do first when they receive their salary is to first of all settle their basic financial needs or expenses and after doing that, the money left with them that is the discretionary income should be put for the bitcoin investment and any other back up or emergency funds for the bitcoin investment to still go forward.

You are absolutely correct and above all our expenses should be our number one priority before thinking of investing in anything with our discretionary and over time I realized the reason some people panic or sell when they are not even supposed to is because they mispioritize things which is forcing out a discrestionary income without attending to their needs first and this is all wrong and when this is been done there is every possibility this folk will always panic or even sell and this implies lack of knowledge and sometimes it is an act of trading.

Those people are investing with money that they are supposed to used for there daily expenses. They failed to sort out there discretionary income by attending to there daily needs first. Therefore, they are not forcing out discretionary income as most of this people understand that they don't have discretionary income to.invest with or they are unable to sort out there discretionary income and then they decide to start investing in bitcoin without determining whether they have Discretionary available to invest with.

[alankasman]

Accumulation, when it comes to investment, is a building block and seems like a ladder that you need to climb in steps to reach the top. Normally, it is not easy to get good results with Bitcoin investments, but with DCA, a method in Bitcoin, you can even reach points in Bitcoin investment that you never expected to achieve.

If you say something like that it certainly seems like a new activity that you should try. What you're saying is absolutely correct. I also support this approach. Accumulation by investing serves as a strong foundation so when we do it we must have a step-by-step approach. The reason for achieving the desired peak is certainly easy. I completely agree with your statement as sometimes some people don't consider the steps necessary for both.
However, when we understand both of these things I think our steps in doing something are easier, especially when it comes to accumulation in Bitcoin investing. The experience and knowledge we discussed need to be understood with the goal and reason being to achieve it in unexpected ways.

The amount that is invested in Bitcoin might be small, but if you give it some time and remain consistent, it will definitely reach a point that no one even expects. Most people who don’t understand accumulation underestimate it, but it makes a significant impact.

For me, it's not necessary to think about large or small amounts. What's needed when investing in Bitcoin is consistency and full concentration. Why is it that sometimes people invest large amounts but lack focus and concentration resulting in a lack of patience when they've already done what they've already done? This means that in Bitcoin investing the amount isn't the main thing consistency is a crucial part of investing especially when we invest long-term which certainly requires consistency and full concentration. Therefore we should never underestimate people who invest even small amounts but who have extraordinary consistency in their efforts.

[cyberninja2]

Accumulation, when it comes to investment, is a building block and seems like a ladder that you need to climb in steps to reach the top. Normally, it is not easy to get good results with Bitcoin investments, but with DCA, a method in Bitcoin, you can even reach points in Bitcoin investment that you never expected to achieve.
The amount that is invested in Bitcoin might be small, but if you give it some time and remain consistent, it will definitely reach a point that no one even expects. Most people who don’t understand accumulation underestimate it, but it makes a significant impact.

It absolutely must be like that because the stages require strengthening someone in terms of investing. Without that I think it will be very difficult to reach that point to generate profits from our investments. I think the example you mentioned is very good in terms of providing strength in investing for someone who should have the stages to do it. The DCA method is essential every time you invest. When you make a profit you'll undoubtedly reach your desired investment goal.

This isn't necessary as investing in Bitcoin simply requires a strong mentality to accumulate Bitcoin through DCA.
Whether it's a small or large amount sometimes people invest large sums but after investing that amount they lose concentration or focus on consistency which can have fatal consequences. Reaching their goal is very difficult due to the underestimation of those investing small amounts. However those investing small amounts consistently focus more confidently than those investing larger amounts. Essentially I think doing everything possible is crucial regardless of whether the amount is large or small. What I need to say is that staying focused and consistent is what will ultimately lead to achieving the desired results.

[Joeboy]

It absolutely must be like that because the stages require strengthening someone in terms of investing. Without that I think it will be very difficult to reach that point to generate profits from our investments. I think the example you mentioned is very good in terms of providing strength in investing for someone who should have the stages to do it. The DCA method is essential every time you invest. When you make a profit you'll undoubtedly reach your desired investment goal.

This isn't necessary as investing in Bitcoin simply requires a strong mentality to accumulate Bitcoin through DCA.
Whether it's a small or large amount sometimes people invest large sums but after investing that amount they lose concentration or focus on consistency which can have fatal consequences. Reaching their goal is very difficult due to the underestimation of those investing small amounts. However those investing small amounts consistently focus more confidently than those investing larger amounts. Essentially I think doing everything possible is crucial regardless of whether the amount is large or small. What I need to say is that staying focused and consistent is what will ultimately lead to achieving the desired results.

Being in profit does not always mean that you have reached your desires goal...Take this example: let say your desire goal is to accumulate 0.05BTC and you began your accumulation during the time when the price of Bitcoin was $60k...Now that the price is at $67k, obviously you have made some profit. But since your goal was on how much Bitcoin you want to have, even the short term price movement wouldn't mean that you have reached you desired goal..

[iamsange]

Being in profit does not always mean that you have reached your desires goal...Take this example: let say your desire goal is to accumulate 0.05BTC and you began your accumulation during the time when the price of Bitcoin was $60k...Now that the price is at $67k, obviously you have made some profit. But since your goal was on how much Bitcoin you want to have, even the short term price movement wouldn't mean that you have reached you desired goal..

But the reality is that everyone wants to profit from anything especially when investing in Bitcoin. They always focus on the profit. As you said someone starts accumulating at $50,000 and a few days later, it's already at $70,000. This means they're already experiencing a profit which sometimes leads them to sell their assets to accumulate more BTC. They know that when the price drops like it does now it's better to do so. They'll certainly profit in the future if the price rebounds like it did a few months ago at $90,000. This is a significant achievement reflecting their basic goal of investing in Bitcoin.

[Ruttoshi]

But the reality is that everyone wants to profit from anything especially when investing in Bitcoin. They always focus on the profit. As you said someone starts accumulating at $50,000 and a few days later, it's already at $70,000. This means they're already experiencing a profit which sometimes leads them to sell their assets to accumulate more BTC. They know that when the price drops like it does now it's better to do so. They'll certainly profit in the future if the price rebounds like it did a few months ago at $90,000. This is a significant achievement reflecting their basic goal of investing in Bitcoin.

Profits shouldn't be what you should put first when you start your bitcoin investment because if you do so, you will divert from being a long-term investor and become a trader since you will be carried away with little profits and sell to take profit.

The best thing a new investor who is on a long term journey should do is to have a bitcoin target and focus on reaching your target so that it can make you committed in keeping your bitcoin purchase ongoing without thinking of selling any no matter the amount of profits generated by your bitcoin investment. If you put profit first, you will be distracted from your bitcoin goal which is buying as many bitcoin as you can.

[JayJuanGee]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

I don't really understand why you are not in favor of buying Bitcoin from your salary. If someone has all their necessary expenses covered with their salary, whatever extra money they have is discretionary income. And there is no problem in investing in Bitcoin with that discretionary income.

It's just a simple and clear issue. They are two different words, salary and discretionary, and of course, discretionary comes from salary, which is the money remaining after sorting out basic necessities. I guess what Cossyblack was saying is that Fakhrulenclix didn't mention buying bitcoin using his discretionary, but just said that when he is paid, he accumulates Bitcoin not minding the current price. of  course, he could be doing that with his discretionary, but for clarity sake, he should rather say... When am payed, after settlement of basic needs, and my discretionary is made available, I accumulate Bitcoin no matter the current price through the DCA.

It would be preferable if we could use the same (or at least similarly understandable) terms so that we can get into talking about the substantive issues rather than ongoingly clarifying the meaning of different words, so you are correct that sometimes the discussions revolve around clarifying the words so that we understand what we are talking about or if we are talking about the same things.

Some guys will understand the practices very well, but just use different words to describe, and surely other guys have very sloppy practices that may well relate to their not really understanding the differences between certain words and/or they are just very sloppy with their cashflow management.  Surely, normal people prefer to have some flexibility with how they spend their money and there can be some burden in both trying to keep track and also making sure to stay within certain limitations.  At the same time, creating our own structures can also help to improve our freedoms.  Another problem is that cash (income) might be coming in on a rolling basis and also the expenses are happening (or coming due) on a rolling basis too, so it can become easy to lose track  if we are not trying to pay attention to how much we are spending and perhaps trying to categorize and differentiate needs versus wants and sometimes we might wrongly conclude that merely increasing our income can resolve all of our problems when we are also contributing to our own problems by either not keeping track of our spending and/or perhaps in other ways spending beyond our means.

We don't talk too much about the use of debt in this thread, and I am not even against the use of debt, yet one of the problems with the use of debt is that it brings an additional levels of complexity into cashflow management practices that might sometimes disguise the extent to which any normie might be spending beyond his means.

You (NewRevelation) mention that these matters are simple, which is probably true that almost all of the skills of both investing into bitcoin on a regular (perhaps weekly?) basis and cashflow management are within skill levels that most people can fairly easily achieve even with fairly basic levels of math that even kids learn by the time they reach their teenage years, yet at the same time, there is likely a need for practice, repetition and even the placement of solid practices for some level of organization take place that facilitates the ability to ongoingly invest into bitcoin and to make sure that money is always available to cover expenses.  I would hope that the longer that guys exercise and practice disciple, and even within 6 months or so, then they will become empowered by their disciple to ongoingly grow their bitcoin investment until it reaches a size that might allow them to be able to discontinue working (except to the extent that maybe their full time job is ONLY the monitoriing of their cashflows and making sure to be spending within the capacities of their bitcoin stash size).

Even if you claim to be investing without accounting for discretionary funds, it sounds to me that the 10-15% that you are investing is from discretionary funds, since the 85% to 90% is covering all of your expenses, so your discretionary funds ares greater than 10-15% of your income.. and the portion that you are investing from is coming from your discretionary funds, even though you claim to not be account for it.
From your discretionary funds, you can invest, save and/or use for discretionary consumption.

The non-discretionary funds covers all of your basic expenses... so if you were using money that you need for your expenses, then you are going to end up getting yourself in trouble.
Of course, you could have large enough back up funds so that you end up having money to cover your expenses in those instanaces that your income is low and/or your basic expenses are high.

This might be a consideration (although not initially) because I feel that 10-15 % is still enough for me to be able to invest comfortably with enough consistency for me and I'm not too worried about my life and needs we have.

Maybe the downside here is that it will take me a little longer to invest because it is certain that the smaller your ratio in investing the longer it will take especially if we want to achieve a goal such as 1 year of income for investment and even more than that.

I get the sense that you (Ryu_Ar1) might be misunderstanding what is meant by 10% to 15% of income being invested into bitcoin, and in that regard, I don't understand why you  believe that investing 10-15% of your income into bitcoin is a small amount.   Relatively speaking and for many normal people, investing 10% to 15% of your income into bitcoin would be a very reasonable paced amount since it frequently is difficult for anyone to get above investing 15% or more of their income into bitcoin (or anything else for that matter), even though surely the higher that any of us is able to get in our bitcoin investment levels without overly discomforting ourselves (financially or psychologically), then the better progress that we make in terms of getting 1 or 2 years of our income invested into bitcoin, which surely gives us good potential to being able to get to fuck you status when we can get 1-2 or more years of our income put into bitcoin.

At the same time I understand that by investing into bitcoin many folks may well be preferring to be able to increase their standard of living rather than staying at their same current income level.  I do think that with bitcoin investing it can be reasonably possible for guys to be able to increase their standards of living, even by 2x or 3x their current income level.  It might be a bit harder (or maybe less reasonable) to achieve higher income level increases without some luck or even higher levels of aggressiveness in regards to how much capital is put into the bitcoin investment.

On the one hand this is also a good thing because for me being and investing is not a race, as long as we are able to do the best for the future then we should do it even though it's definitely not easy because we have to manage income and expenses as much as possible but when we are disciplined I'm pretty sure that time will come and we can talk about the ideal financial freedom that we always discuss.

It is true that bitcoin's asymmetric bet characteristics allows for that even reasonably low levels of ongoing and consistent investing may well still end up resulting in considerable life improvements as long as the investment timeline is for longer periods such as 10 years or long.. .while at the same time appreciating that the mere fact that the investment is long, that does not increase the odds of the investment becoming guaranteed, even though longer term investing (and a longer term mindset) does at least help to mitigate concerns about stresses that can sometimes accompany bitcoin's ongoing and seemingly inevitable shorter term volatility dynamics.

It absolutely must be like that because the stages require strengthening someone in terms of investing. Without that I think it will be very difficult to reach that point to generate profits from our investments. I think the example you mentioned is very good in terms of providing strength in investing for someone who should have the stages to do it. The DCA method is essential every time you invest. When you make a profit you'll undoubtedly reach your desired investment goal.

This isn't necessary as investing in Bitcoin simply requires a strong mentality to accumulate Bitcoin through DCA.
Whether it's a small or large amount sometimes people invest large sums but after investing that amount they lose concentration or focus on consistency which can have fatal consequences. Reaching their goal is very difficult due to the underestimation of those investing small amounts. However those investing small amounts consistently focus more confidently than those investing larger amounts. Essentially I think doing everything possible is crucial regardless of whether the amount is large or small. What I need to say is that staying focused and consistent is what will ultimately lead to achieving the desired results.

Being in profit does not always mean that you have reached your desires goal...Take this example: let say your desire goal is to accumulate 0.05BTC and you began your accumulation during the time when the price of Bitcoin was $60k...Now that the price is at $67k, obviously you have made some profit. But since your goal was on how much Bitcoin you want to have, even the short term price movement wouldn't mean that you have reached you desired goal..

Your example of a goal that might be attempted to be related to investing in bitcoin is fairly pathetic Joeboy, since it makes little to no sense to have a goal of acquiring a certain quantity of bitcoin (such as 0.05 BTC) without any further context.. You mention such goal as if it were an end goal rather than maybe an intermediary goal, and even your describing a a mere 12% increase in the BTC price from $60k to $67k.   That shows the potential of the 0.05 BTC, if the quantity were to be achieved at that price having a value of $3,350, and then maybe there are other questions regarding how long this hypothetical guy would have had been investing in bitcoin during the time that maybe the BTC price had achieved a 12% increase in value.  Is this investment over a few months or over several years?  or are we talking about a 4-10 years or more timeline or something else?  

In this thread we are intending to be talking about investing and investing ideas, yet your example seems to be caught up in some kind of a dumb ass trading framework (mindset), which would be largely off topic, even though it could be possible for guys to suggest that intermediary bitcoin accumulation targets can be set, even though the investment timeline may well be 4-10 years or longer, there could be intermediate goals (and targets) to try to achieve a certain quantity of BTC at various points along the way, such as 6 months, 18 months, 3 years, 5 years, etc. etc. etc.

Being in profit does not always mean that you have reached your desires goal...Take this example: let say your desire goal is to accumulate 0.05BTC and you began your accumulation during the time when the price of Bitcoin was $60k...Now that the price is at $67k, obviously you have made some profit. But since your goal was on how much Bitcoin you want to have, even the short term price movement wouldn't mean that you have reached you desired goal..

But the reality is that everyone wants to profit from anything especially when investing in Bitcoin. They always focus on the profit.

Holy fuck, iamsange.  Are you even following any of the ideas of this thread?  I have difficulties understanding and appreciating how investing (within the context of my own ideas about bitcoin investment, which happens to be the topic of this thread), relates to focusing on profits.. since it does not and from my perspective, as I have ongoingly been emphasizing, investing relates to building up our bitcoin holdings with 4-10 year or longer time horizons, so why the fuck are we going to be focusing on profits, unless we are forgetting that we likely have a 10 year or longer time horizon, and the only guys who might get away with timelines that are less than 10 years would be those guys who have age and/or health issues that contribute towards their having to have shorter than 10 year investment timelines.

As you said someone starts accumulating at $50,000 and a few days later, it's already at $70,000. This means they're already experiencing a profit which sometimes leads them to sell their assets to accumulate more BTC.

So what?   The mere fact that there are guys fucking around with trading, what purpose are we achieving to be talking about that off-topic bullshit?

Yeah we know that guys trade and they make mistakes, yet it seems better to be talking about good practices related to investing rather than talking about what not to do.

They know that when the price drops like it does now it's better to do so. They'll certainly profit in the future if the price rebounds like it did a few months ago at $90,000. This is a significant achievement reflecting their basic goal of investing in Bitcoin.

You don't seem to understand what is investing, even though you use the term "investing" in your post.  

I will suggest that sure it is all fine and dandy that we might assess the extent to which our bitcoin holdings are in profits or not, yet if we are still accumulating bitcoin, then we could be employing a variety of tactics such as DCA, lump sum and buying on dips, yet we may well not be too much affected by whether the BTC price is $50k or $90k in terms of our ongoing attempts to accumulate bitcoin, unless maybe we are trying to accumulate more while the prices are lower, yet we cannot know whether the BTC price is going to stay lower or even go lower, so we may well be continuing to buy bitcoin on a regular basis whether the BTC prices are $60k, $90k, $120k or some other prices in the short term.

Of course, you (iamsange) have been registered on the forum since April 2016 (nearly 10 years), so maybe you have already mostly been buying bitcoin for those last nearly 10 years, yet Joeboy has only been registered here around 8 months, so he may well be way earlier in his bitcoin accumulation stage which would likely mean that he would be buying no matter what, yet a guy who had already been buying for 10-ish years may well end up adapting his buying based on price (to the extent that you (iamsange) might be at least attempting to be talking about investing rather than trading of bitcoin?).

In recent times, we have so many guys who are posting in this thread and failing/refusing to really grapple with the topic of this thread and seeming to be referring to trading ideas rather than investment ideas, even when they are using the word "investment" to describe what they are intending to post about.

[AuchanX]

I don't care about the price of Bitcoin because I have already implemented a DCA strategy to accumulate Bitcoin, so every month when I get paid, I will accumulate Bitcoin regardless of the price at that time.
I used to trading a lot, but now I prefer to set aside a larger percentage of my money for investing, although I still trading , but with a smaller percentage.

It is a good decision that you have taken for yourself but where I don't agree is buying bitcoin from your salary. You were  correct when you said you will be accumulating bitcoin regardless of price but investing when your basic needs hasn't been met is wrong. What we should invest in bitcoin is discretionary income and not from our salary Discretionary income is the leftover money after your basic needs is met.  Before you invest ,you should ensure your basic needs are met and the left over money should be invested in bitcoin.

Yes you are right, it is good that even if we  are getting paid every month from work and we want to buy and invest in bitcoin we shouldn’t use all our monthly salary to buy bitcoin and forget about our basic needs. It will be very bad for us to do so because in the future it will surely tell on us. What investors should do first when they receive their salary is to first of all settle their basic financial needs or expenses and after doing that, the money left with them that is the discretionary income should be put for the bitcoin investment and any other back up or emergency funds for the bitcoin investment to still go forward.

You are absolutely correct and above all our expenses should be our number one priority before thinking of investing in anything with our discretionary and over time I realized the reason some people panic or sell when they are not even supposed to is because they mispioritize things which is forcing out a discrestionary income without attending to their needs first and this is all wrong and when this is been done there is every possibility this folk will always panic or even sell and this implies lack of knowledge and sometimes it is an act of trading.

Many people think, "Let's invest first anyway" and then the expenses will be arranged, and this is where the problem begins. Bitcoin is a volatile asset, and any volatile asset has risks. But the biggest risk for Bitcoin is not the market, but rather cash flow and psychological stress. When the money is invested with money for rent, food, medicine or emergency family expenses, people get scared and sell at the slightest dump, because they have no other choice. So at least for me, budget first, then investment, this can be a good decision. From the monthly income,
First, the fixed expenses are to meet the basic needs of rent, bills, food, family, etc.
Then at least some emergency funds, after setting aside these, the part that is truly unused is the discretionary income. Making Bitcoin DCA with this money alone can be a safe and sustainable decision.

[BlackBoss_]

Many people think, "Let's invest first anyway" and then the expenses will be arranged, and this is where the problem begins. Bitcoin is a volatile asset, and any volatile asset has risks. But the biggest risk for Bitcoin is not the market, but rather cash flow and psychological stress. When the money is invested with money for rent, food, medicine or emergency family expenses, people get scared and sell at the slightest dump, because they have no other choice. So at least for me, budget first, then investment, this can be a good decision. From the monthly income

First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.

Investment has risk even with gold or Bitcoin, and prices of any assets in any market are always volatile, up and down with bullish and bearish time, so investment will not always bring profit temporarily but also bring loss even big one at some times. Therefore, only prepare a kind of solid finance before starting investment can help investors to focus more on investment and holding bitcoin a long time, which will mostly guarantee profit for them.

If they leverage with investment, they might have loss.
If they use own money, but not in a safe way, they might have loss.
If they reserved money to use for spendings and emergency, and only spend spare one for investment, then if they can hold their coins a long time, they will have very high probability of getting profit.

[alankasman]

First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.

This is one of the main points when it comes to investing. When investing we no longer focus on the most important things especially the needs of maintaining our lives especially balancing the needs of our families. This also helps us avoid problems with our families so that our investments no longer become a problem we have to face. This is certainly true if we cleverly manage our financial foundations and manage them so we also reap the benefits because everything is organized according to the needs of our investments.

Investment has risk even with gold or Bitcoin, and prices of any assets in any market are always volatile, up and down with bullish and bearish time, so investment will not always bring profit temporarily but also bring loss even big one at some times. Therefore, only prepare a kind of solid finance before starting investment can help investors to focus more on investment and holding bitcoin a long time, which will mostly guarantee profit for them.

It seems that the statement about the risks of investing in gold or Bitcoin is quite true as both of these are currently benchmarks for everyone. What we need to know is that both of these are currently experiencing ups and downs in market conditions with significant increases in gold investment prices. For those who already have gold investments accumulated over the past few years they sometimes accumulate gold when market prices are far below what they are now, making it a profitable asset. However it seems difficult for them to buy more gold to add to their assets because their income is not sufficient to buy more gold as the current price has risen significantly. Therefore all they need to do is maintain their income even though their income is only sufficient for daily needs but they do not have to worry about their existing assets and do not need to add to their investments. I think it is enough to just maintain the assets they already own.

The market conditions surrounding Bitcoin's price are currently declining. Therefore if you have income exceeding your basic needs it's certainly worth pursuing DCA for long-term accumulation. This is because market conditions are very favorable for those with stable finances. Therefore, the only way is to immediately increase your Bitcoin holdings for the future which will become an asset for us. We don't yet know what will happen in the next few years whether market conditions will favor us in terms of buying or not.
Therefore today might be a very good time to DCA Bitcoin by buying as much as possible as the current market conditions are at $66,000.

[iamsange]

First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.

In general organizing should be a priority in maintaining a balance between their living needs. This ensures that when they start investing they no longer have to worry about the primary needs of their family. Before we begin we must have prepared for their needs as we are their primary source of income.

Investment must have a focus meaning that when we start investing we must have a goal for the next few years so that when we start we only focus on one direction. This shows us our principles in investing because if we combine other activities when investing of course this will be more complicated in terms of making our investments so that our goal in investing is no longer the focus on what we do until in the end we will experience losses on our investments especially investments that we make using saved money with the aim that we can use the saved money to rotate the amount of money so that there is an increase so that the money does not die in fact, by investing in Bitcoin of course the money can increase for the next few years.

[Taskford]

You are absolutely correct and above all our expenses should be our number one priority before thinking of investing in anything with our discretionary and over time I realized the reason some people panic or sell when they are not even supposed to is because they mispioritize things which is forcing out a discrestionary income without attending to their needs first and this is all wrong and when this is been done there is every possibility this folk will always panic or even sell and this implies lack of knowledge and sometimes it is an act of trading.

Many people think, "Let's invest first anyway" and then the expenses will be arranged, and this is where the problem begins. Bitcoin is a volatile asset, and any volatile asset has risks. But the biggest risk for Bitcoin is not the market, but rather cash flow and psychological stress. When the money is invested with money for rent, food, medicine or emergency family expenses, people get scared and sell at the slightest dump, because they have no other choice. So at least for me, budget first, then investment, this can be a good decision. From the monthly income,
First, the fixed expenses are to meet the basic needs of rent, bills, food, family, etc.
Then at least some emergency funds, after setting aside these, the part that is truly unused is the discretionary income. Making Bitcoin DCA with this money alone can be a safe and sustainable decision.

The real risk is not really the volatility of Bitcoin if they aim for long years of investment, the one could give them a problem if the essential factor which tied up with their finances.

Budgeting their income thru their important needs like bills, foods, rent and also having an emergency funds secures them and build some safety nets.

After those things has been covered, what's left or their discretionary income is perfect to used for DCA. With this for sure they can proceed without getting any issue and could stay away thinking about selling when market collapsed and could ever ride with volatile movement without getting afraid on current situation. Considering all of those important matter will make those thing sustainable

[cyberninja2]

At the same time I understand that by investing into bitcoin many folks may well be preferring to be able to increase their standard of living rather than staying at their same current income level.  I do think that with bitcoin investing it can be reasonably possible for guys to be able to increase their standards of living, even by 2x or 3x their current income level.  It might be a bit harder (or maybe less reasonable) to achieve higher income level increases without some luck or even higher levels of aggressiveness in regards to how much capital is put into the bitcoin investment.

And this is happening a lot in all circles so what you said is certainly true because now when someone has understood and felt what they got while being involved in this Bitcoin forum, of course things like what you said are happening a lot and I personally realize about this because I see a lot of people who have the results of Bitcoin, their lifestyle is more than their basic standards, this is because their income so far may exceed the needs that were previously obtained and also now they think that when there are results that are not used, of course they are used more to invest by buying Bitcoin via DCA until now They really live a life full of the wins they get, in essence, now they invest more by buying Bitcoin with the aim of having assets for their own future.

[Brizi5000]

First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.

In general organizing should be a priority in maintaining a balance between their living needs. This ensures that when they start investing they no longer have to worry about the primary needs of their family. Before we begin we must have prepared for their needs as we are their primary source of income.

Investment must have a focus meaning that when we start investing we must have a goal for the next few years so that when we start we only focus on one direction. This shows us our principles in investing because if we combine other activities when investing of course this will be more complicated in terms of making our investments so that our goal in investing is no longer the focus on what we do until in the end we will experience losses on our investments especially investments that we make using saved money with the aim that we can use the saved money to rotate the amount of money so that there is an increase so that the money does not die in fact, by investing in Bitcoin of course the money can increase for the next few years.

Why am I having this feeling that your statement is still going towards profit making in bitcoin investment as the primary goal for investing in bitcoin. I don’t really view that as the primary goal or target for a bitcoin investor, I think that the goal of a true bitcoin investor is to focus on the long term mindset of consistent accumulation and investing in bitcoin and hodl so as to first of all have a reasonable or decent amount of bitcoin stash in his holdings. A bitcoin investor must first be placed well balanced enough with his level of bitcoin accumulated in his portfolio such that even when he takes out some profit off it in the long run it won’t still deteriorate or wreck his bitcoin portfolio as this is his long term investment.

[JayJuanGee]

Many people think, "Let's invest first anyway" and then the expenses will be arranged, and this is where the problem begins. Bitcoin is a volatile asset, and any volatile asset has risks. But the biggest risk for Bitcoin is not the market, but rather cash flow and psychological stress. When the money is invested with money for rent, food, medicine or emergency family expenses, people get scared and sell at the slightest dump, because they have no other choice. So at least for me, budget first, then investment, this can be a good decision. From the monthly income

First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.

You don't need to be organized before getting started investing in bitcoin.  All you need to do to get started is figure out that you have discretionary income that is availabe.

Sure, you will likely do better to sustain your investment if you organize, yet you can do that as you go, it is not required in order to get started investing in bitcoin.

Investment has risk even with gold or Bitcoin,

Why would we give any shits about gold?  We are talking about bitcoin in this thread.

and prices of any assets in any market are always volatile, up and down with bullish and bearish time, so investment will not always bring profit temporarily but also bring loss even big one at some times. Therefore, only prepare a kind of solid finance before starting investment can help investors to focus more on investment and holding bitcoin a long time, which will mostly guarantee profit for them.

Profits are not guaranteed and newbies don't have to have solid finances before getting started investing in bitcoin.  All they need to get started is discretionary funds and common sense.

If they leverage with investment, they might have loss.

Leverage does not tend to be good... especially for beginners.  It is better to start with basic techniques first, and even if a person becomes more experienced, leverage might be a bad idea, especially since bitcoin tends to be a winning asset in the long run, and using leverage could turn such investment into bitcoin into a loser.

If they use own money, but not in a safe way, they might have loss.

There's always risk of loss, so a person should only invest into bitcoin with money they can afford to lose.

If they reserved money to use for spendings and emergency, and only spend spare one for investment, then if they can hold their coins a long time, they will have very high probability of getting profit.

Sure.  Investment into bitcoin should only come from discretionary funds, and it is a good practice to keep back up funds too, so that there is no need to tap into the bitcoin investment at any time that is not of their own choosing, and if the investment period is 4-10 years or longer, there should be expectations to protect the investment so that it does not need to be tapped into for any reason, even if the investment is "in profits"  it tends to take a long time to build up a bitcoin investment.

First of all, and above all too, people must organize and keep their lives safely before thinking of investment. Investment is only a safe choice, and helpful for their finance if they begin with solid financial foundation that does not need to be from rich people but must be organized well, and never like using all money for investment.

This is one of the main points when it comes to investing. When investing we no longer focus on the most important things especially the needs of maintaining our lives especially balancing the needs of our families. This also helps us avoid problems with our families so that our investments no longer become a problem we have to face. This is certainly true if we cleverly manage our financial foundations and manage them so we also reap the benefits because everything is organized according to the needs of our investments.

Your way of framing "priorities" seems strange, since it is likely that balance needs to be struck in regards to various other obligations that you might have, besides your investing into bitcoin.

There are ways to prioritize bitcoin, yet also attempting to make sure that you don't mess up your life and/or your relations in other parts of your life.  Surely some families might have difficulties if there are members of the family who either have input to the finances or there might be obligations to make sure that such family members are sufficiently supported
 

Investment has risk even with gold or Bitcoin, and prices of any assets in any market are always volatile, up and down with bullish and bearish time, so investment will not always bring profit temporarily but also bring loss even big one at some times. Therefore, only prepare a kind of solid finance before starting investment can help investors to focus more on investment and holding bitcoin a long time, which will mostly guarantee profit for them.

It seems that the statement about the risks of investing in gold or Bitcoin is quite true as both of these are currently benchmarks for everyone.

We are talking about bitcoin in this thread.  

Fuck gold.

What we need to know is that both of these are currently experiencing ups and downs in market conditions with significant increases in gold investment prices. For those who already have gold investments accumulated over the past few years they sometimes accumulate gold when market prices are far below what they are now, making it a profitable asset. However it seems difficult for them to buy more gold to add to their assets because their income is not sufficient to buy more gold as the current price has risen significantly. Therefore all they need to do is maintain their income even though their income is only sufficient for daily needs but they do not have to worry about their existing assets and do not need to add to their investments. I think it is enough to just maintain the assets they already own.

Are you even trying to stay on the topic of this thread?

The market conditions surrounding Bitcoin's price are currently declining. Therefore if you have income exceeding your basic needs it's certainly worth pursuing DCA for long-term accumulation. This is because market conditions are very favorable for those with stable finances.

Who are you talking about?  a new investor or someone who is already involved buying bitcoin on a regular basis?  The fact that the BTC price is down should not discourage anyone from investing in bitcoin, especially if they are considering DCA or considering continuing DCA that they had already been doing.

Therefore, the only way is to immediately increase your Bitcoin holdings for the future which will become an asset for us. We don't yet know what will happen in the next few years whether market conditions will favor us in terms of buying or not.

I would think that many of us are investing long term.  4-10 years or longer, so why do the next few years matter?  Are we trading or doing something in the next few years?  Have we reached a large enough accumulation of bitcoin?
  

Therefore today might be a very good time to DCA Bitcoin by buying as much as possible as the current market conditions are at $66,000.

Are you talking about buying the dip, rather than DCA?

If you DCA. then you likely don't need to change your strategies based on dip or not, even though surely some guys might choose to hold some money back for buying dips that may or may not end up happening.

At the same time I understand that by investing into bitcoin many folks may well be preferring to be able to increase their standard of living rather than staying at their same current income level.  I do think that with bitcoin investing it can be reasonably possible for guys to be able to increase their standards of living, even by 2x or 3x their current income level.  It might be a bit harder (or maybe less reasonable) to achieve higher income level increases without some luck or even higher levels of aggressiveness in regards to how much capital is put into the bitcoin investment.

And this is happening a lot in all circles so what you said is certainly true because now when someone has understood and felt what they got while being involved in this Bitcoin forum, of course things like what you said are happening a lot and I personally realize about this because I see a lot of people who have the results of Bitcoin, their lifestyle is more than their basic standards, this is because their income so far may exceed the needs that were previously obtained and also now they think that when there are results that are not used, of course they are used more to invest by buying Bitcoin via DCA until now They really live a life full of the wins they get, in essence, now they invest more by buying Bitcoin with the aim of having assets for their own future.

I was specifically referring to if a guy gets to a point of figuring out if he has enough bitcoin or more than enough.  Perhaps the guy had been earning $30k per year and investing in bitcoin at the same time, and if he gets to enough bitcoin that he can support his current income level, he might feel that he does not have enough in order to quit his job, so maybe he continues to invest in bitcoin, or just keep his bitcoin at the same level and just let time pass until the level of bitcoin that he had already accumulated might be enough to support his target income level, such as if he might have a target income level of $80k per year, for example.

So then once he sees that his bitcoin is able to support an income level of $80k per year, then he chooses to quit his job and start to live off of his bitcoin. By the way, I think that right now, if a person wanted to have a sustainable income of $80k per year, then he would need to have at least 13.7583 bitcoin, and so maybe a guy has that amount, and maybe he has less than that amount, yet if he has a target level of income that he wants to bet from his bitcoin, then he can shoot for that, and maybe some guys would prefer to exceed their goal by 10% or 20% before they might switch into some variation of sustainable withdrawal, whether price-based and/or time-based forms of sustainable withdrawal that I talk about such bitcoin sustainable withdrawal ideas in my other thread.