JJG’s Outline of Bitcoin Investment Ideas

[Itz-prisigold]

The investor perspective or orientation about Bitcoin matters so much, becoming rich overnight is not actually supposed to be part of an investor perspective because it can become a temptation, it's even hardest in trading. Aside having the patience to hold for a long-term, the amount invested is also important. You can't want to be rich even if you have the patience to hold for a long term when the invested amount is really small. Like your total investment can't be $3000 and you expect to be rich at the end of the long-term. Even as Bitcoin investment is not guaranteed, you actually will get according to what you sow even if there's 100% profit. patience to hold for a long-term and the amount invested is really important to become rich in Bitcoin investment.

I think your comment is too focused on becoming rich. Do you think that is everyone that invest in Bitcoin to become rich? Some investor are just trying to build up there savings overtime, to protect their purchasing power from inflation and to gradually build a strong financial position. So all these does not require anyone to become wealthy overnight.

And secondly, I don't really think it matters if the amount someone want to start with is small, probably that's the available discretionary income the person has at that time, and maybe with time when their income and financial situation changes, he or she can gradually increase the purchase.  The best thing about long term accumulation is not really about how much a person is starting with, it's just about you building the habit of consistently accumulating Bitcoin as your financial capacity improves.

[ruykeri]

For sure, the more bitcoin we accumulate, the more measures we have to take to make sure that we are adequately protecting our bitcoin stash and hopefully also protecting whatever privacy that we feel that we need to maintain.  Like you said, it would be a shame if we spent 4-10 years or longer accumulating bitcoin, and then end up losing large portions, if not all, of our bitcoin stash due to our own sloppiness in regards to how we are holding our coins, to the extent that some coins might be on exchanges and even in hot wallets, an other coins might be in medium cold storage and other coins might be in deeper cold storage, and also hopefully our security is not so complicated that we end up locking ourselves (or our intended heirs) out of our coins.

Being your own bank has certain levels of complications, and some people might not want to be their own bank or they might want to limit how much they are being their own bank, even though self-custody brings value to bitcoin, and self-custody is what makes bitcoin powerful and valuable..

Everything is focused around money management point. If you can not find a way to make enough extra money to buy, having all the knowledge of Bitcoin cycles, halvings, on-chain data and what not does not help.

Security setup warning at the end is not stressed enough, however. People get hung up on buying up, and then they make the plan so complicated for their family to follow that if they can not follow it, they can not access it. Bitcoin passing down planning is indeed problem that needs to be dealt with by most Bitcoin holders and is equally as important as the buying process itself.

“Be your own bank” is great phrase until you think about the number of customer service and account recovery and passing down steps banks have in place. Then there is holding it yourself which involves all the power and all the responsibility, at once, and most people do not realize second part.

JJG sir basically discussed the situation after accumulation. I think @Numan467, you are giving him advice yourself by considering JJG sir's statement as uncomplete. Before giving advice to someone at the beginning, try to understand Bitcoin investment well yourself. And if you can think about Bitcoin inheritance plan, then the person who holds Bitcoin can tell a trusted person how to access his Bitcoin. But since giving the seed phrase directly creates security problems. Because the family member who is giving access to him at the beginning, whether due to greed or dishonesty, can take control of the Bitcoins himself. Because in many cases, if there are many siblings or family members in the inheritance, then seeing that it has to be divided among all, he can hide it and intervene in that asset himself in advance.

But if someone wants, they can write the seed phrase of Bitcoin in their personal locker where they keep documents of their other assets or leave their own money there. When he dies, his children will definitely break into his locker to see what kind of assets are there so that they can use the wealth left by their father. If they get the seed phrase at that time, they can get that wealth equally and that is after the owner dies. If a person dies without making this while he is alive , then no one will get the benefit of his hard earned wealth that bitcoin i mean here .

[Different patterns]

[edited out]

Yes I agree, our individual circumstances and financial capabilities have a strong role to play in how we view and approach bitcoin investments, that’s why I always tell folks not to compare themselves to others.
What we owe ourselves is to gain the right knowledge and understanding of bitcoin then implement strategies that best suits our financial situation and long term goals.

For sure we talk about gaining more and more familiarity with bitcoin with the passage of time, yet at the same time, many of us know that the power of our ongoingly being able to buy bitcoin and to make sure that we are ongoingly building our bitcoin investment and strengthening our back up funds is based on our cashflow management, and hopefully we are also ongoingly learning as we go, since we might not need to know a lot in the beginning, yet as we build our bitcoin and presumptively our financial and psychological security by ongoingly building our networth, then it becomes more likely that we are tailoring our learning and tailoring any changes in our practices and/or our plans about how to progress through bitcoin accumulation into bitcoin management and maintenance and then perhaps later into variations of sustainable withdrawal.  Tailoring how to go through these stages is based on our progress and our ongoing learning.

I agree to your point. because I also believe learning and investing using both method for bitcoin investment i see it as best approach, is not everything need to be understand right from day one before investing in bitcoin. as long as investors can manages is cash flows properly and only invest discretionary income. they can build both their financial confidence and bitcoin position over a period of time Because I see bitcoin as a journey that has different stages, The strategy that you see works for newbie’s won’t necessarily be the same strategy to work for a someone with many years of accumulation. but the important thing is to keep learning, protecting your holdings, strengthening your backup funds and stay committed to your investment.

[JayJuanGee]

[edited out]

Everything is focused around money management point. If you can not find a way to make enough extra money to buy, having all the knowledge of Bitcoin cycles, halvings, on-chain data and what not does not help.

Of course, there needs to be a surplus of money beyond what is needed for basic expenses in order to be able to invest and to be able to keep the investment going for 4-10 years or longer. 

There can still be advantages in managing money correctly and making sure to be living within ones own means rather than living beyond one's own means and living in debt, and yeah, it can be difficult for some folks to either earn enough money to cover the costs of all of their basic needs or to be able to identify possible ways to increase income so that there might be abilities to invest.

Since this thread is about bitcoin investing, there is ONLY so much that we can really get into discussions that might relate only to money management and/or inabilities of normies to get their income up to high enough levels so that they are able to invest into bitcoin.

Security setup warning at the end is not stressed enough, however. People get hung up on buying up, and then they make the plan so complicated for their family to follow that if they can not follow it, they can not access it. Bitcoin passing down planning is indeed problem that needs to be dealt with by most Bitcoin holders and is equally as important as the buying process itself.

I think that the most important aspect of bitcoin investing and profiting from it should be a self-ish level, and sure, if there is still money left over upon death then that money can be passed down to heirs, yet I would not consider the passing down to heirs as being the most important issue or problem, even though it is something that some bitcoiners consider to be important, yet to me it seems like a want rather than a need.

“Be your own bank” is great phrase until you think about the number of customer service and account recovery and passing down steps banks have in place. Then there is holding it yourself which involves all the power and all the responsibility, at once, and most people do not realize second part.

For sure, normies can end up mixing up non-bitcoin ways of holding accounts with bitcoin ways of holding accounts (wallets and/or bitcoin addresses and/or UTXOs).  In bitcoin, there tends to be a need to make sure to be able to recover accounts in case they are lost or ways to access private keys are forgotten.  Of course, if they are stolen or leaked then there would not be any way to recover them, unless being able to find the person who had stolen them to give them back.

[edited out]

It's not a regular conversation to see people talking about passing their bitcoin holdings down maybe like some kind of an inheritance, it is not our of the question but if you want to pass it down to someone else you will have to pass down your keys as well for them to be able to access that inheritance, this is really not too complicated, let's say you store your keys offline which is the best place to store it then you just have to make sure they have access to it when the time for that comes around.

Since people have a variety of levels of trust in their various relationships, the question of passing down coins is not necessarily easy (or uncomplicated) since there likely would be desires to pass down access once the bitcoiner is either deceased or greatly incapacitated but not before that time.  We do not necessarily need to go into those kinds of inheritance questions in this thread, even though inheritance (and succession questions) can be a factor for a good number of bitcoiners. 

Of course, in this thread we seem to spend a lot of time talking about matters related to both bitcoin accumulation and even cashflow management because those tend to be the bigger and more common issues that affect a lot of bitcoiners and a lot of folks who are considering getting into bitcoin, and so a lot of the other factors related to bitcoin management or even transitioning into being able to either maintain a bitcoin stash or starting to liquidate bitcoin (maybe in sustainable ways) and/or other questions of how to use bitcoin end up becoming "good problems to have" that are results of guys having had already gotten into positions of holding enough or more than enough bitcoin.. so that those kinds of subsequent questions become more relevant... since we tend to have to build our bitcoin first before managing our bitcoin becomes as relevant.

It's not a regular conversation to see people talking about passing their bitcoin holdings down maybe like some kind of an inheritance, it is not our of the question but if you want to pass it down to someone else you will have to pass down your keys as well for them to be able to access that inheritance, this is really not too complicated, let's say you store your keys offline which is the best place to store it then you just have to make sure they have access to it when the time for that comes around.

I agree with you that this is not a regular conversation  most investors would like to talk about, but you are here talking as if you knows when you are going to die and leave this world.
Do you know that you might be killed by your own family member very early or your asset may be sold off if an unworthy person gets a hold of your secret phase?
Am not saying that it's a bad thing to trust some of your family members, but what am trying to say is that it would be wrong to reveal your secret phase to any of them even though it's a more reliable person because a carelessness from such person will cost you dearly, unlike when the details of your asset are only with you and your lawyer.

Even finding a trustworthy lawyer is not necessarily an easy accomplishment.

[Rabata]

Someone who earns $400 per month consistently investing $50 is a hero, while someone who earns $2,000 and invests $200 per month is relaxed. The results could be the same 10 years from now, just the path is different. ^{[I'm talking about results, not amounts]} So don't misunderstand my words.
There is no need to compare yourself with others, those who show off buying 1 Bitcoin are not necessarily better than those of us who consistently earn $50 every month, those people may invest using hot money or debt, while we use discretionary income.

Instead of thinking about or comparing ourselves to others, it's better to focus on what we can do and as much as possible invest consistently for 4 years, that's all. In Bitcoin investment, there is no need to rush, no need to force yourself to invest large amounts, the important thing is to have the right strategy and arrive safely at your destination.

Knowledge is also very important because it acts as a bulletproof vest to prevent panic when prices drop because you already know that this is how the cycle works.

You first asked not to compare yourself to others, and then you made your entire argument based on that comparison. "A person earning $400 and investing $50 is a hero, and a person earning $2000 and investing $200 is comfortable." How did you come to such a conclusion from just these numbers?

The first person in your example may not have any loans or dependents. But the second person may have medical expenses, family responsibilities, loans, or irregular employment. It is very important for you to understand that discretionary income cannot be determined by total income. Rather, the part that can be sustainably kept for long-term purposes after deducting your problem expenses is more important. Someone who earns $2000 a month may have a discretionary income of $100. Again, someone who earns $800 a month but has low liabilities can set aside $200 discretionary income. This may depend on the financial situation and liabilities of the person.

[ZeroVinsonN]

Someone who earns $400 per month consistently investing $50 is a hero, while someone who earns $2,000 and invests $200 per month is relaxed. The results could be the same 10 years from now, just the path is different. ^{[I'm talking about results, not amounts]} So don't misunderstand my words.
There is no need to compare yourself with others, those who show off buying 1 Bitcoin are not necessarily better than those of us who consistently earn $50 every month, those people may invest using hot money or debt, while we use discretionary income.

Instead of thinking about or comparing ourselves to others, it's better to focus on what we can do and as much as possible invest consistently for 4 years, that's all. In Bitcoin investment, there is no need to rush, no need to force yourself to invest large amounts, the important thing is to have the right strategy and arrive safely at your destination.

Knowledge is also very important because it acts as a bulletproof vest to prevent panic when prices drop because you already know that this is how the cycle works.

You first asked not to compare yourself to others, and then you made your entire argument based on that comparison. "A person earning $400 and investing $50 is a hero, and a person earning $2000 and investing $200 is comfortable." How did you come to such a conclusion from just these numbers?

The first person in your example may not have any loans or dependents. But the second person may have medical expenses, family responsibilities, loans, or irregular employment. It is very important for you to understand that discretionary income cannot be determined by total income. Rather, the part that can be sustainably kept for long-term purposes after deducting your problem expenses is more important. Someone who earns $2000 a month may have a discretionary income of $100. Again, someone who earns $800 a month but has low liabilities can set aside $200 discretionary income. This may depend on the financial situation and liabilities of the person.

While the amount of money a person makes might play a role in the amount of discretionary income they will have it is definitely not the only factor involved, a person earning more might end up with less discretionary income then someone who is earning considerably less and while the amount of discretionary income a person has might play a role in how much he invest there is also no guarantee that someone who has more discretionary income will invest more then someone who has less, so I don't think it's a good thing to compare two different investors based off of how much of their income they are using to invest in bitcoin when we know that they most definitely have different levels of responsibility and different levels of discretionary income.

[ejikeme24]

The investor perspective or orientation about Bitcoin matters so much, becoming rich overnight is not actually supposed to be part of an investor perspective because it can become a temptation, it's even hardest in trading. Aside having the patience to hold for a long-term, the amount invested is also important. You can't want to be rich even if you have the patience to hold for a long term when the invested amount is really small. Like your total investment can't be $3000 and you expect to be rich at the end of the long-term. Even as Bitcoin investment is not guaranteed, you actually will get according to what you sow even if there's 100% profit. patience to hold for a long-term and the amount invested is really important to become rich in Bitcoin investment.

Your statement is a little bit confusing, in your first paragraph you said an investor is not supposed to be talking about becoming rich that it can become a temptation. and you later said that the stash of bitcoin they have accumulated will determine if Thier expectinons would come through or not, how sure are you that if they put a huge amount of money in Thier bitcoin investment that they will become rich? You seem to have forgotten that no matter the amount of money you put in your bitcoin investment there is no guarantee that your investment will grow to a point where you will become rich.


So everyone is entitled to decide how much they are going to put in their bitcoin investment so long as it does not affect Thier finance and / or the amount  they can afford to loss. but I'm sure that if they are buying regularly maybe for 4-5 years, There portfolio is likely to be in a better position. Let's say a guy is investing with 100$ maybe every week for 4-5 years, He will be looking at $20,800 in four years that's if he does not Skip any week and even though he skips maybe 2-3 weeks it will not have any effect in his investment, so no matter how small a discretionary income may be, if a person is consistent in accumulating bitcoin for 4-5 years, definitely they will get something reasonable.

[Cgrexp]

Someone who earns $400 per month consistently investing $50 is a hero, while someone who earns $2,000 and invests $200 per month is relaxed. The results could be the same 10 years from now, just the path is different. ^{[I'm talking about results, not amounts]} So don't misunderstand my words.
There is no need to compare yourself with others, those who show off buying 1 Bitcoin are not necessarily better than those of us who consistently earn $50 every month, those people may invest using hot money or debt, while we use discretionary income.

Instead of thinking about or comparing ourselves to others, it's better to focus on what we can do and as much as possible invest consistently for 4 years, that's all. In Bitcoin investment, there is no need to rush, no need to force yourself to invest large amounts, the important thing is to have the right strategy and arrive safely at your destination.

Knowledge is also very important because it acts as a bulletproof vest to prevent panic when prices drop because you already know that this is how the cycle works.

You first asked not to compare yourself to others, and then you made your entire argument based on that comparison. "A person earning $400 and investing $50 is a hero, and a person earning $2000 and investing $200 is comfortable." How did you come to such a conclusion from just these numbers?

The first person in your example may not have any loans or dependents. But the second person may have medical expenses, family responsibilities, loans, or irregular employment. It is very important for you to understand that discretionary income cannot be determined by total income. Rather, the part that can be sustainably kept for long-term purposes after deducting your problem expenses is more important. Someone who earns $2000 a month may have a discretionary income of $100. Again, someone who earns $800 a month but has low liabilities can set aside $200 discretionary income. This may depend on the financial situation and liabilities of the person.

While the amount of money a person makes might play a role in the amount of discretionary income they will have it is definitely not the only factor involved, a person earning more might end up with less discretionary income then someone who is earning considerably less and while the amount of discretionary income a person has might play a role in how much he invest there is also no guarantee that someone who has more discretionary income will invest more then someone who has less, so I don't think it's a good thing to compare two different investors based off of how much of their income they are using to invest in bitcoin when we know that they most definitely have different levels of responsibility and different levels of discretionary income.

Investment requires discretionary income. Therefore, it will not be realistic to judge the investment capacity only by income. Because a person has to fulfill all his necessary needs from the amount of income he earns and at the same time has to fulfill various family responsibilities. Therefore, even if he earns a good amount of money, there may be very little money left to fulfill all his responsibilities. Therefore, it should not be thought that if the income is high, the investment capacity will also be high. Basically, the capacity should be determined from the remaining money that the person has the ability to lose after fulfilling all his needs. Success does not depend on the amount of investment, some may have a lot of money to invest and some may have very little money. Both will be successful from their own position if they are consistent with the financial situation and can follow the plan, not on the amount.

[Grease5000]

Someone who earns $400 per month consistently investing $50 is a hero, while someone who earns $2,000 and invests $200 per month is relaxed. The results could be the same 10 years from now, just the path is different. ^{[I'm talking about results, not amounts]} So don't misunderstand my words.
There is no need to compare yourself with others, those who show off buying 1 Bitcoin are not necessarily better than those of us who consistently earn $50 every month, those people may invest using hot money or debt, while we use discretionary income.

Instead of thinking about or comparing ourselves to others, it's better to focus on what we can do and as much as possible invest consistently for 4 years, that's all. In Bitcoin investment, there is no need to rush, no need to force yourself to invest large amounts, the important thing is to have the right strategy and arrive safely at your destination.

Knowledge is also very important because it acts as a bulletproof vest to prevent panic when prices drop because you already know that this is how the cycle works.

Just like as @Rabata said
You first asked not to compare yourself to others, and then you made your entire argument based on that comparison. "A person earning $400 and investing $50 is a hero, and a person earning $2000 and investing $200 is comfortable." How did you come to such a conclusion from just these numbers?

The first person in your example may not have any loans or dependents. But the second person may have medical expenses, family responsibilities, loans, or irregular employment. It is very important for you to understand that discretionary income cannot be determined by total income. Rather, the part that can be sustainably kept for long-term purposes after deducting your problem expenses is more important. Someone who earns $2000 a month may have a discretionary income of $100. Again, someone who earns $800 a month but has low liabilities can set aside $200 discretionary income. This may depend on the financial situation and liabilities of the person.

 Just like as @Rabata said the first person may not necessarily invest with loan money or have many dependant, since it have to do with different persons it have more to do with how big someone financial needs is  and good he is at managing his finances and not how big their discretionary income is because some people have higher discretionary income because they earn more and spend less while some who earn low struggle to carve out discretionary income from what they earn.

As long as someone is able to figure his or her discretionary income from whatever they earn, be it an employee, a business owner or a freelancer we shouldn't judge how others are investing without knowing their financial situation.

[SuperBitMan]

It's not a regular conversation to see people talking about passing their bitcoin holdings down maybe like some kind of an inheritance, it is not our of the question but if you want to pass it down to someone else you will have to pass down your keys as well for them to be able to access that inheritance, this is really not too complicated, let's say you store your keys offline which is the best place to store it then you just have to make sure they have access to it when the time for that comes around.

I agree with you that this is not a regular conversation  most investors would like to talk about, but you are here talking as if you knows when you are going to die and leave this world.
Do you know that you might be killed by your own family member very early or your asset may be sold off if an unworthy person gets a hold of your secret phase?
Am not saying that it's a bad thing to trust some of your family members, but what am trying to say is that it would be wrong to reveal your secret phase to any of them even though it's a more reliable person because a carelessness from such person will cost you dearly, unlike when the details of your asset are only with you and your lawyer.

When it comes to this kind of situation, it’s usually depends on how a family is, some people don’t have trusted family members, and for that reason giving out their secret phrase or password to any of their family member is not right however, in some family, they have trusted people that will always stand by the right thing and the truth, this kind of people if you have them in your family, you can trust them with your secret phrase.
The only reason you can trust your lawyer and not trust anyone in your family is because you don’t have a sincere family members. If you have a sincere family member you will rather trust them than your lawyer.
Don’t you know your lawyer can also do away with your bitcoin if you die without informing your family that you have bitcoin.

[Biggeno]

While the amount of money a person makes might play a role in the amount of discretionary income they will have it is definitely not the only factor involved, a person earning more might end up with less discretionary income then someone who is earning considerably less and while the amount of discretionary income a person has might play a role in how much he invest there is also no guarantee that someone who has more discretionary income will invest more then someone who has less, so I don't think it's a good thing to compare two different investors based off of how much of their income they are using to invest in bitcoin when we know that they most definitely have different levels of responsibility and different levels of discretionary income.

In as much as a guy is able to generate monthly income from his 9-5 or side hustle, he’ll can only sort out discretionary funds  when his important needs have been settled (cause I cannot say all his need reason being that he cannot use 1 week or 1 month of income to settle all his needs). Being able to sort out one’s discretionary fund is important, but the percentage of allocation it’s a matter of choice. There are folks that would give more priority to things that they can do without thereby limiting the amount of free cash that’ll be available for their Bitcoin investment.

[The Founding Titan]

It's not a regular conversation to see people talking about passing their bitcoin holdings down maybe like some kind of an inheritance, it is not our of the question but if you want to pass it down to someone else you will have to pass down your keys as well for them to be able to access that inheritance, this is really not too complicated, let's say you store your keys offline which is the best place to store it then you just have to make sure they have access to it when the time for that comes around.

I agree with you that this is not a regular conversation  most investors would like to talk about, but you are here talking as if you knows when you are going to die and leave this world.
Do you know that you might be killed by your own family member very early or your asset may be sold off if an unworthy person gets a hold of your secret phase?
Am not saying that it's a bad thing to trust some of your family members, but what am trying to say is that it would be wrong to reveal your secret phase to any of them even though it's a more reliable person because a carelessness from such person will cost you dearly, unlike when the details of your asset are only with you and your lawyer.

You trust your lawyer more with the secrets your assets? I'm still very young with no intentions of dying any time soon so there is currently no reason for me to share any of these with anyone other than myself but let's say I was old and my life was obviously no longer going to carry for very long then I would make sure my assets go to the right person/people, it's not about handing over your keys to someone else but about making sure that when you are no longer there the right person will have access to them, either that or you leave your bitcoin to become lost.

[IceLincoln]

Being your own bank has certain levels of complications, and some people might not want to be their own bank or they might want to limit how much they are being their own bank, even though self-custody brings value to bitcoin, and self-custody is what makes bitcoin powerful and valuable..

The power of bitcoin lies in it’s decentralisation, but you find that some investors still don’t fully grasp this concept to appreciate what it actually means or should I say they’re lazy and choose the easy path. There are still investors today who hold their coins in exchanges or hot wallets. Sometimes it seems that people don’t want the responsibility of being their own bank or to be held accountable, they prefer others to do their dirty work even with the risks involved.
This is something we should be discussing often aside from strategies of accumulating and hodling, discussions on the importance of securing our wallets properly should be considered and encouraged.
Accumulating bitcoin I think is one side of the coin, the other part is securing it properly.