Generally, people only understand better and deeper about Bitcoin market if they have experience in its bear market so the first type of people with entries in a bear market look to have better experience and chance of getting and taking profit within first four-years experience.
Yeah, but we are not talking about trading in this thread. We are talking about investing... which generally is going to be longer term such as greater than 10 years, unless the guy might have some age or health issue that might contribute towards him having a shorter investment timeline.
So there is almost no reason to be getting worked up about profits or no profits, since profits is largely irrelevant while building up the bitcoin stash, and many guy will take 4-10 years or longer jut to build up their bitcoin stash, unless they are able to front load and/or reallocate into bitcoin from some other investment(s) that they might have had.
You got three years in bitcoin.. Are you already thinking about profits, rather than continuing to build? There are not even too many guy who are greatly in profits right now who started 3 years ago.. so surely I would think that a guy who started investing in bitcoin in early 2023, may well have quite a few more years to be building their stash.... and they will be even more delayed if they are not ongoingly buying bitcoin during correction periods like our current one.
Unfortunately most newbies join the market during a bull market when they are exposed to Bitcoin on media but it's challenge for them, and if they can go through a bear market well, survive well they will gain a lot of knowledge, experience, strengthen their mentality, and sharpen their risk management for a next market cycle.
And? Do you consider any problem with that? I doubt that we have been talking about getting rich quick in this particular thread, and sure there could be some guys who are able to hit the bitcoin price (or the market trend) in a way that i more advantageous, yet it tends to be difficult to have very strong views in regards, to short-to-medium bitcoin price directions, and largely if guy is ongoingly buying bitcoin and feeling somewhat new to the process, then corrections like our current one seems like it should be welcomed.
From my own perspective, I consider that managing cashflows (and building up strong cashflow management systems that include back up funds) tends to be central to abilities to ongoingly continue to buy bitcoin through the ups and downs of the market, and of course, guys can go through periods of uncertain discretionary income levels, and there can be quite a bit of value in regards to increasing income so that more discretionary funds can be available to buy bitcoin and alo to keep as back up funds (and of course, we should have some discretionary consumption within our regular practices, too).
Sure. if we are talking about guys that are still in their first 4-ish years of accumulation, and even it seems to me that these days, it may well take a couple of cycles for guys to build up a large enough stash that they might start to move away from ongoingly accumulating bitcoin. You might want to provide with an example, since i think that what a guy does depends on where he is at and how much BTC he might have had already accumulated. WE are not all in the same place of our bitcoin investment journey, and surely there are guys that are between stages, so it can be ambiguous regarding what they should do, presuming that they are actually treating bitcoin as an investment and not distracted by trading and/or shitcoins.
Bitcoin has its four-year cycle but first four years for different people will be very different too. Because they will have different entering times with some people joined in a bear market and four years are enough for them to experience a bear market and enjoy a next bull market.
Of course, each person has to account for the circumstances of his own entry into bitcoin, yet as a general principle, it i likely best for an overwhelming majority of bitcoin newbies to spend a whole cycle accumulating bitcoin.
Sure, if for some reason he was able to front load his bitcoin investment and/or to reallocate into bitcoin from other investment, then he might end up being at some advantage, yet I hardly imagine too many instance of most normies to be reasonably able to reach overaccumulation status in less than 4 years.
There are other people who only joined in a bull market and four years very likely mean they will stuck in the bear market which will be very painful for them especially if they did not prepare well enough from knowledge about market history, cycle, and finance, lack of proper risk management.
Yeah.. they can learn as they go and keep buying bitcoin.. .what is wrong with that?
This thread is filled with people saying they regret their past decisions about selling their Bitcoin too early, fellas life goes on either ways, no one will live forever, those Bitcoin are meant to be spent, just don't run out of Bitcoin.
I am solo mining Bitcoin and I am also use Asic miner on normal pool, I plan to do this for long time to come, but if I am lacking something someday I will definitely be spending, why? Because I can't tell when my time will be up in this world.
In my country bankers are stealing the dead people money, if the account stays inactive for too long then it becomes the banks, in the case of Bitcoin it will rot in your wallet, don't regret selling Bitcoin, the most assured thing in the world in death.
Invest in Bitcoin, mine some if you can, use them to have a better future, there is no point holding and holding till your death bed.
You characterize this thread in a way that I don't recall seeing such a phenomena that you claim to exist (within a context that you suggest to bre relevant), yet have you read the thread?, or are you just making shit up in order to make your largely off-topic claims?
It's all fine and dandy that you are excited about earning in bitcoin and spending bitcoin, yet at the same time, in this here thread, we are talking about investing in bitcoin (which tends to involve accumulation of bitcoin over time, even though we frequently will discuss DCA and also lump sum buying and/or buying on dips.. and not so much earning in bitcoin, even though surely that is also a legitimate option. In any event, guys who are investing in bitcoin are likely building up their bitcoin holdings with the passage of time, and maybe from time to time they might spend some of their bitcoin too, but if they are trying to build their bitcoin investment, then many times the spends for serious bitcoin investors (who are still accumulating bitcoin) would be spending and replacing their bitcoin within a reasonable time.
For miners, and other guys earning income in bitcoin (such as yourself), they will tend to have to spend some (or even all of their) bitcoin, so their circumstances may well not be exactly the same as guys who are earning income in fiat and trying to build up their bitcoin holdings as an investment that they are building.
There have been plenty of miners, in the past, who have fucked up by failing/refusing to hold onto enough of their bitcoin. Hopefully for your own good, you figure out some kind of a reasonable balance for your own circumstances, which based on your post, you seem to believe that you have.
By the way, if you have been registered on the forum for four years (congratulations), hopefully you have also accumulated some bitcoin during that time, rather than spending it all .and having nothing to show for it.. . hahahahaha
Talking about the highlighted statement here, I think that it's wrong to use your reserve funds to go to an expensive restaurant to eat, because what then is your discretionary income for consumption doing if you are going to be using your reserve funds to fund such lifestyle?
And while going out to eat with your discretionary income for consumption, you must be very careful not to over spend and go above it, so that it wouldn't be problematic to your Bitcoin investment later in the future.
Reserve funds can be used on whatever you like, whether it is a good way of spending or not.. especially if you think about reserve funds as extra discretionary funds that have been building up, so then they can be used to invest, save and/or discretionarily consume.
Don't get reserve funds mixed up with emergency funds, since emergency funds would be the category of your back up funds in which you prefer to not allow your back up funds to fall to such levels, so you are reluctant to use emergency funds for anything unless you have to, and surely the emergency funds would be the last funds that you have available prior to your having to tap into your bitcoin .. so the more that you build up your emergency funds, then they might start to become excessive and to have more flexibility which would mean that they would be reserve funds once you have the option to spend them on anything and you don't feel any urgency to replace them as soon as possible after you had spent them.
I agree to a large extent with you, but I still think precision is needed especially for the new investor when dealing with their emergency funds. On the possibility of building it out so well that it starts to feel excessive, maybe is now equal to 6 months worth of expenses or more, I believe it is better to place those funds separately, stop building out the emergency fund and reallocate the funds going into it into further building out reserve funds and increasing your aggressiveness in your bitcoin buys.
There might not be any problems for guys to have various kinds of precision in the ways that they organize and manage their back up funds and//or their choices of how they might make adjustments to their bitcoin buying aggressiveness based on some measure of how comfortable they feel about their back up funds, and surely guys may have quite a few variance in their own factors that might relate to their own income and/or to their expenses that cause them to choose levels different from other guys.
There can be times in which guys might make adjustments in one direction or another based on their ongoing experiences and changes in their feelings, and surely if they get 10 years down the road, and they realize that they were too aggressive or that they were too whimpy, then they might not be able to make any substantial changes to fix the earlier 10 years, even though they could make some adjustments to where they are at, to the extent that the changes that come 10 year later would be as impactful as to their choices that were 10 years earlier.
Aggressiveness and whimpiness can have various differing interpretations, and surely some guys are going to be more active and interactive with what they are doing, and making adjustments on a regular basis, and other guys will be more passive about the systems that they had chosen to put in place.
There is no real right answer or wrong answer, even though some guys are going to achieve better results than others, yet even if there were to be two guys with exact same circumstances, the guy who chose to invest $30 per week rather than $100 per week may well might have had valid reasons for choosing that level based on other choice that he made with the priorities that he chose and the comfort level that he wanted to have.
I like a situation where I know that I strictly cannot spend from my emergency fund unless it is a pure emergency, but I can use my reserve funds for discretionary spending, little emergencies and other things and have some flexibility with it while maintaining total strictness with not tampering with my bitcoin holdings and not using funds in my emergency fund for any other thing safe from real emergencies. It would account for more efficiency in managing cashflow and proper handling of funds to eliminate possible excesses and errors.
For sure, there is value in setting limits on yourself., and the guy who violates his emergency fund might end up finding himself having had made a mistake and causing damage to himself based on his failure to maintain the level of his emergency funds and also perhaps not engaging in practice to foresee shortages in his income and/or increase in his expenses.. and yeah, if he ends up losing his job, and not getting a replacement for a month or more, then he might not be adequately prepared.. and it could set him back several year of investing because he did not have strong back up systems/practices in place.
Sure, if they fucked up and then invested too much too soon at higher price, there still should not be a problem to continue to buy.. Since they should have money to continue to buy, even if they started out buying at higher prices.
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The most important thing is having your discretionary income that is what matters the most and secondly reserve funds and emergency funds are "almost" the same thing but the difference is that reserve funds can serve also as an emergency funds in a case where there is no emergency funds but emergency funds can not serve as a reserve fund.
Lastly, our emergency funds can be used actually to be aggressive when there is Dip and we don't have enough discretionary but it must be replace back immediately after using it.
Buying the dip is not an emergency.
You can ultimately do what you like, even if it ends up being quite reckless and putting your holdings at unnecessary risk.. and of course, the devil could be in the details, yet many guys here know that it can take a long time for guys with low incomes to build up their emergency funds.. so replacing it (if it ends up getting depleted or mostly depleted) is not an easy task either.
reserve funds and emergency funds are "almost" the same thing but the difference is that reserve funds can serve also as an emergency funds in a case where there is no emergency funds but emergency funds can not serve as a reserve fund. Lastly, our emergency funds can be used actually to be aggressive when there is Dip and we don't have enough discretionary but it must be replace back immediately after using it.
You may be a little confused about these two things, emergency fund and reserve fund. Because emergency fund is the first level of security for your investment and your safety. Investing with emergency fund is never a right decision. Taking money from emergency fund will be the right decision when your holdings face danger and to deal with that danger, taking money from our emergency fund will be the right decision but taking money from emergency fund for any other type of expense or aggressive investment will not be the right decision at all.
But yes, you can invest with reserve fund. Reserve fund is usually created to meet planned expenses and reserve fund is your second level of security. For example, to meet planned expenses like you will buy a mobile in the future, reserve fund is created. However,
after investing aggressively with reserve fund, you need to rebuild your reserve fund as soon as possible.There is a higher level of urgency to replace any emergency funds as soon as possible, yet with reserve funds, the replacement of spent funds is less urgent.. and therefore optional based on personal preferences of each person.
You been on the forum for slightly more than 2 years laijsica. .Haven't you learned about ongoing accumulation of bitcoin?
Yes JayJuanGee Sir I am working on this issue regularly and depositing Bitcoins regularly as per my ability. Before joining the forum I did not know about most of the important aspects of investment and I am engaged in regular discussions to gain knowledge about many unknown things.
There is a target among investors who have been accumulating Bitcoins for two years or less because they are large scale investors because they have not sold their holdings even though Bitcoin is worth $126k. For them the current average price will not have any impact on Bitcoin accumulation. Of course we will have to change the strategy in some cases to add more Satoshis to the portfolio over time but as an additional accumulation strategy while continuous DCA is going on.
I can see that you seem to be struggling, especially if you believe that $126k is a reasonable and/or meaningful target that you should be shooting for - which if you had not realized, this is an investing thread, not a trading thread.
So you think that you are going to have some kind of an advantage to sell good chunks of your BTC at $126k or some other random price that you believe is important because you are salivating getting some short-term cash out of your bitcoin holdings? Yet you were delayed from cashing out, based on our current dip.
You might be overly struggling to figure out what is investing and trying to get your bitcoin holdings up to a point that you can start to employ some form of sustainable withdrawal whether price based and/or time-based, yet even from my opinion, either of those sustainable withdrawal strategies will work way better for you (and for any of the other guys who are still in their early bitcoin accumulation stages), if you are able to get your bitcoin holdings up to a decent size, first, and it could take you more than a couple cycles, perhaps even 3 or 4 cycles before you really reach such status (frequently referred to as overaccumulation status).
But, yeah, ultimately you are free to do whatever you like when it comes to your bitcoin accumulation and choice of selling some or all of it along the way at various points, even if you may well end up selling too many coins too soon, since you seem to be anxious to shave off some profits.. and you seem to be focused on "profits" rather than building and accumulating your stash to greater amounts.
