JJG’s Outline of Bitcoin Investment Ideas

[Agbam]

Exactly, a lot of people have been working hard in this forum, especially this thread just to encourage newbie not to delay their bitcoin journey, not until they have a large amount of money before they can start, they can start with small they have, as long as it discretionary funds, not money that will put pressure on their investment in the future. And again I just realized that some folks delay their buying because they think bitcoin is only for people who are financially stable. That’s completely wrong thinking. As a serious investor, you can start as little your discretionary income is. building your bitcoin position gradually without waiting for large sum to start.

It's true some people actually delay their Bitcoin investment because they think they need to be stable before they can invest in it and meanwhile anyone can always invest in Bitcoin. I feel it's all due to ignorance that's why they have such mindset.

Understanding Bitcoin investment matters a lot but shouldn't be a reason you delay your investment. Also the mistake many people make is trying to put so much into buying Bitcoin, they don't know that it's a gradual process of building oneself. Start small, grow your investment while not overdoing anything or investing only discretionary income that way there will be less pressure when the plan is holding for a long time.

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

[Obulis]

Those who has their back up funds such as reserve funds can buy more bitcoin during the dip while those who don't also have doesn't have to kill them self over nothing, anybody who isn't buying consistently and then wait for the dip to buy more isn't doing themselves good they are only delaying their investment progress. With the dca strategy and some available discretionary income an investor can start buying gradually without waiting for the dip and then probably buy more during the dip if there are such reserve funds.

Many dips would still happen in the future so not being able to seize an opportunity in a particular one is not the end of the world but some people can't quite being opportunists and would end up using the wrong funds to buy dips and complicate the investment along the line, it's even worst than waiting for the dip.
 Although waiting for the dip is never a good strategy cause it gives room for procrastination and wrong market timing, the market is unpredictable and no one can tell the exact price it would drop before recoverin.

Missing to seize a dip becomes unpardonable to the investor when buy the dip is their all and all. If not why panic when you are still ongoingly busy building your Bitcoin asset without worries if there's going to be a dip or not because it will definitely happen again. Indeed, that is another pressure that buy the dip investors face, aside market price and waiting pressure, they're also under pressure when they miss to seize a dip.

[Futurexxx]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

It's true that you don't need to be stable financially before you can invest in Bitcoin, because what an investor needs in other to invest in Bitcoin consistently is a discretionary income, but it's more easier when you have a source of discretionary income that may aid your consistent accumulation, than when you only bought once or twice and stall on your accumulation because of lack of discretionary fund to invest with.

 So even though discretionary is the most important thing an investor needs in other to invest in Bitcoin, having a source of discretionary income makes investment even more easier because you can be consistent with your accumulation, unlike when you are not sure if when your next discretionary funds will be available.

[Grease5000]

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

I don't think someone must have a big salary or a perfect financial situation before starting. Low income earner and those with irregular income especially those in developing countries who are able to figure out their discretionary income from the small amount they earn can invest in bitcoin, even if they have $20 left at the end of day after settling all their essentials need  they can use $10 to buy bitcoin, $5 for emergency fund and $5 for backup.  Those this amount may look small but if they can do it repeatedly for some years they may end up accumulating a reasonable amount of bitcoin.

However, if someone is struggling to afford food, pay rent, or take care of their family, and is enable to figure out their discretionary income from what they earn, I think the  best thing to do is not rush into bitcoin, they should focus first on improving their financial situation, by getting a better job or something that will improve their finances.

[IceLincoln]

Then you can start with any amount you can afford at the moment, that won’t affect your emergency funds and backup funds allocation. With enough back up funds those that always have the urges to buy the dip , don’t need to wait for the dip before they start accumulating. They can literally save some backup funds to buy the dip .

Maybe you wanted to say reserve fund? It is also a type of backup fund; but flexible unlike emergency fund. You can buy dips with it and also use it to take care of emergencies before tapping from your real emergency savings if it is not enough.

The sole purpose of building a backup funds isn't for buying the dip but it is for unexpected emergencies that will help in the future, obviously @ Anime seem to be mixing up backup funds in place of reserve funds because our reserve funds can be use to buy Bitcoin when there's dip that's if guys does not have enough discretionary income at the time, or they feel that the amount of discretionary income they have is not enough for them to buy as aggressive as they planned. But as for the backup funds apart from emergency needs our backup funds should not be spend in any other thing.

Your discussion is quite good, because you said that you should not buy at a discount with money kept for emergency needs, which I also agree with. However, if you take the backup fund and the emergency fund in the same sense here, the issue of reserves becomes unclear. In this thread, the backup fund includes both emergency funds and reserves. So when you said that no backup money can be used except for emergency needs, you yourself actually admitted that there is an opportunity to buy at a discount with the reserve. In the discussion of @samadam007, the reserve is called a flexible form of backup. That is why his explanation is not a permission to buy with the emergency fund. Rather, it is an attempt to separate which part is flexible and which part will remain intact for needs.

However, just giving the name reserve does not make the entire money free for investment. I would like to mention a situation where, suppose, you have set aside money for house repairs and want to buy it at a discount. If the repairs are urgent, that money is not actually extra money that can be spent.  On the other hand, if there is money set aside for expenses that can be deferred, there may be an opportunity to use some of it, considering the remaining security.

To add to what you’ve said so far, when reserves are used always try to replenish it back as soon as possible because you planned to use it for something else but had an opportunity to buy cheaper which you could not neglect.
Money set aside for critical/emergency situations should never be used because you may not be able to replace it before an emergency hits you. And when it does and there’s no safety net for your investment it jeopardises your hardwork so far.

[Different patterns]

Yep.  Life can be rough, and lessons can be hard, since no one is going to save any of us if we fuck up and we miscalculate how much money we have available, and many guys might not even realize that bitcoin is a 4-10 year or longer timeline for investing, and they wrongly conclude that they can fuck around and try to flip it in a shorter period of time, including trying to play cycles and other short-term (less than 4 years) aspects of bitcoin that ends up fucking them up the ass when bitcoin price ends up not going up as they had hoped (and expected) it to do.

So maybe lessons can be learned to the extent that guys recognize/appreciate bitcoin as a valuable asset to invest into, yet each of us has to be careful not to invest beyond our means, and if we do not actually have discretionary funds (or a sufficient amount of such), then we should not be investing in bitcoin, since bitcoin investing has a 4-10 year or longer timeline that we should be striving to work within those kinds of investment parameters rather than trying to gamble and/or trade with it.

You just said the truth people need to understand about bitcoin investment, and I think if some people understand their financial situation properly, they will know how to plan, without put themselves in a position where emergency will ruin their investment. One thing about bitcoin, if you don’t think and plan properly how to handle your investment for long term, once you make financial mistakes, money meant for basic needs you invest, that show you put yourself in difficult situations where no one can guarantee your rescue whenever emergency happen. At least investor should approach the bitcoin investment with mindset of 4-10 years above than expecting that you will make quick profit for short period of time.

[Stive009]

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

If someone stops spending money on their essential expenses while investing in Bitcoin then it is definitely a wrong decision. However I think it is a bit hasty to conclude that Bitcoin investment is not for everyone

Yes it is right to always invest by understanding your financial situation. if someone's income is not enough to meet the necessary expenses of the family or if the expenses exceed the income then I would not advise them to put more pressure on their financial situation just to buy Bitcoin. Rather I would advise them to try to create another source of income in addition to their main income according to the situation and opportunity. For example, if they have time and ability they can work part-time or start a small business. In this way, they will fulfill their family responsibilities with their main salary and from the additional income they can gradually invest according to DCA and build a backup fund or emergency fund.

I know that this advice may not be easy for everyone to implement. Not everyone has extra time or work opportunities. But where there is a realistic opportunity trying to increase their income can also be an option. If someone is not able to invest right now,their priority should be to improve their financial situation first. Yes if you start investing from your extra income the amount of Bitcoin deposit may not be very large. But in long-term investment it is not mandatory to have a large amount of capital at the beginning. After ensuring the necessary expenses and financial security you can start DCA with a small surplus money according to your ability. It is also possible to increase the investment amount as your income increases over time.

If someone can start investing with a small amount today and create a financial situation to maintain it in the long term then they can be ahead of someone who despite having the ability to invest never started simply because they did not have a large amount of capital.

[obuoma]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

For the sake of keeping the records straight, Bitcoin is for everyone because anyone can invest in Bitcoin irrespective of their gender, age, culture, religion and geographical location. But to invest in Bitcoin and be able to preserve the investment, certain things need to be put in place. This is where the idea of discretionary income comes into question because it is the only funds that an investor can out in Bitcoin without being perturbed. I wouldn't want us to go with the wrong idea that some Bitcoin is not meant for some people, even those without discretionary income today can have one tomorrow and be able to buy Bitcoin, which means Bitcoin is meant for them but time and situation is the factor.

[BluebloodCXVI]

<>

If someone stops spending money on their essential expenses while investing in Bitcoin then it is definitely a wrong decision. However I think it is a bit hasty to conclude that Bitcoin investment is not for everyone

Yes it is right to always invest by understanding your financial situation. if someone's income is not enough to meet the necessary expenses of the family or if the expenses exceed the income then I would not advise them to put more pressure on their financial situation just to buy Bitcoin. Rather I would advise them to try to create another source of income in addition to their main income according to the situation and opportunity. For example, if they have time and ability they can work part-time or start a small business. In this way, they will fulfill their family responsibilities with their main salary and from the additional income they can gradually invest according to DCA and build a backup fund or emergency fund.

Perhaps you’re right that income increment may be a possible solution to lack of investment funds, but let’s be realistic here, it is not a feat that everybody can realistically achieve.

In most cases, even when someone finds an extra source of income, investing in bitcoin might not be a priority for them at that time because what if they still gotta build up their savings first?, what if they still got debts to pay off or are trying build their financial security first?, these are things that should be put into consideration.

I know that this advice may not be easy for everyone to implement. Not everyone has extra time or work opportunities. But where there is a realistic opportunity trying to increase their income can also be an option. If someone is not able to invest right now,their priority should be to improve their financial situation first. Yes if you start investing from your extra income the amount of Bitcoin deposit may not be very large. But in long-term investment it is not mandatory to have a large amount of capital at the beginning. After ensuring the necessary expenses and financial security you can start DCA with a small surplus money according to your ability. It is also possible to increase the investment amount as your income increases over time.

If someone can start investing with a small amount today and create a financial situation to maintain it in the long term then they can be ahead of someone who despite having the ability to invest never started simply because they did not have a large amount of capital.

What if the person that was waiting did it deliberately so that they can first strengthen their financial position before delving into bitcoin?, did you consider that too?, i’m sure you didn’t.
I don’t think that starting early is necessarily an advantage for a guy if it’s gonna leave him vulnerable to unexpected expenses.

[Humblevirus]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

For the sake of keeping the records straight, Bitcoin is for everyone because anyone can invest in Bitcoin irrespective of their gender, age, culture, religion and geographical location. But to invest in Bitcoin and be able to preserve the investment, certain things need to be put in place. This is where the idea of discretionary income comes into question because it is the only funds that an investor can out in Bitcoin without being perturbed. I wouldn't want us to go with the wrong idea that some Bitcoin is not meant for some people, even those without discretionary income today can have one tomorrow and be able to buy Bitcoin, which means Bitcoin is meant for them but time and situation is the factor.

I may not likely agreed with you that everyone, irrespective of age, can invest in Bitcoin. If someone is already very old, I would not advise such a person to invest in Bitcoin. Just imagine someone who is over 90 years old. How active will such a person be in managing their Bitcoin investment? And how long will they be able to hold their Bitcoin to enjoy the benefits of their investment?If someone is already very old, I think it would be better for them to use the money they have to take care of themselves and continue to enjoy their life. I believe that is the best approach.As for your other points, I think and agree that Bitcoin does not discriminate based on religion, gender. As long as people have discretionary income, they can invest in Bitcoin.

[cxtreenal]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

For the sake of keeping the records straight, Bitcoin is for everyone because anyone can invest in Bitcoin irrespective of their gender, age, culture, religion and geographical location. But to invest in Bitcoin and be able to preserve the investment, certain things need to be put in place. This is where the idea of discretionary income comes into question because it is the only funds that an investor can out in Bitcoin without being perturbed. I wouldn't want us to go with the wrong idea that some Bitcoin is not meant for some people, even those without discretionary income today can have one tomorrow and be able to buy Bitcoin, which means Bitcoin is meant for them but time and situation is the factor.

Bitcoin is for everyone and it is very important to ensure this because some poor people have a fear of the word investment. Poor people cannot meet their basic needs properly and they think that it will be a luxury to think about investing. Not at all a poor person can invest in Bitcoin and he can become a long term investor if he can gain mental strength and focus on increasing his income.
A person does not remain poor all his life, his condition improves due to his strong morale and hard work to earn money. The concept of discretionary income is important for investors of any income because everyone has different income and expenses and discretionary income. As per his ability he will accumulate Bitcoin.

[sotelorene]

To add to what you’ve said so far, when reserves are used always try to replenish it back as soon as possible because you planned to use it for something else but had an opportunity to buy cheaper which you could not neglect.
Money set aside for critical/emergency situations should never be used because you may not be able to replace it before an emergency hits you. And when it does and there’s no safety net for your investment it jeopardises your hardwork so far.

Investing in Bitcoin during dip should  not be done simply because one can not afford to neglect or miss it because that will be a very big mistake because it is never a must to be aggressive during the dip especially when we don't have a discrestionary income to do that, so taking it upon oneself that we could not neglect the opportunity is very wrong and not logical I mean you are not competing with anyone so we should be careful and invest within our reach and means and don't feel entitled to Dip.

[Qhunman]

For the sake of keeping the records straight, Bitcoin is for everyone because anyone can invest in Bitcoin irrespective of their gender, age, culture, religion and geographical location. But to invest in Bitcoin and be able to preserve the investment, certain things need to be put in place. This is where the idea of discretionary income comes into question because it is the only funds that an investor can out in Bitcoin without being perturbed. I wouldn't want us to go with the wrong idea that some Bitcoin is not meant for some people, even those without discretionary income today can have one tomorrow and be able to buy Bitcoin, which means Bitcoin is meant for them but time and situation is the factor.

What you and agbam is saying is correct, bitcoin is open to everyone and everyone can invest as long as they have the  funds to buy.  investor shouldn't buy bitcoin directly from their income because it is not a good idea as they will likely be forced to sell it back to cover their basic needs.  That is why Investors are advice to use their main income to cover for their basics needs and use what  is remaining to invest in bitcoin, so that they won't have to sell their bitcoin portfolio to cover those basic needs later.  investors who don't have discretionary income should avoid investing at all because they will likely sell back when they are desperate need of money to cover their basic needs.

[Stive009]

<>

If someone stops spending money on their essential expenses while investing in Bitcoin then it is definitely a wrong decision. However I think it is a bit hasty to conclude that Bitcoin investment is not for everyone

Yes it is right to always invest by understanding your financial situation. if someone's income is not enough to meet the necessary expenses of the family or if the expenses exceed the income then I would not advise them to put more pressure on their financial situation just to buy Bitcoin. Rather I would advise them to try to create another source of income in addition to their main income according to the situation and opportunity. For example, if they have time and ability they can work part-time or start a small business. In this way, they will fulfill their family responsibilities with their main salary and from the additional income they can gradually invest according to DCA and build a backup fund or emergency fund.

Perhaps you’re right that income increment may be a possible solution to lack of investment funds, but let’s be realistic here, it is not a feat that everybody can realistically achieve.

In most cases, even when someone finds an extra source of income, investing in bitcoin might not be a priority for them at that time because what if they still gotta build up their savings first?, what if they still got debts to pay off or are trying build their financial security first?, these are things that should be put into consideration.

I know that this advice may not be easy for everyone to implement. Not everyone has extra time or work opportunities. But where there is a realistic opportunity trying to increase their income can also be an option. If someone is not able to invest right now,their priority should be to improve their financial situation first. Yes if you start investing from your extra income the amount of Bitcoin deposit may not be very large. But in long-term investment it is not mandatory to have a large amount of capital at the beginning. After ensuring the necessary expenses and financial security you can start DCA with a small surplus money according to your ability. It is also possible to increase the investment amount as your income increases over time.

If someone can start investing with a small amount today and create a financial situation to maintain it in the long term then they can be ahead of someone who despite having the ability to invest never started simply because they did not have a large amount of capital.

What if the person that was waiting did it deliberately so that they can first strengthen their financial position before delving into bitcoin?, did you consider that too?, i’m sure you didn’t.
I don’t think that starting early is necessarily an advantage for a guy if it’s gonna leave him vulnerable to unexpected expenses.

I have already made it clear in my Write that creating an additional source of income is not possible for everyone.  Not everyone has extra time or work opportunities.  But that does not mean that it is wrong for those who have that opportunity to try to earn extra income.

 You are ignoring the main point of my Write.  I did not say anywhere that if you have extra income you should invest that money directly in Bitcoin.  If someone has outstanding debts to pay off needs other financial obligations those should be given priority first.  Even if the entire additional income is spent on paying off debts or meeting other obligations that income can still help improve his financial situation. 

 Waiting to be financially ready is a purely personal decision.  But that does not mean that it is wrong to start investing earlier.   If someone can invest small amounts regularly even after meeting their essential expenses and financial responsibilities why should they postpone investing just in the hope that their financial situation will improve in the future?

 Dude My point is not to tell everyone to start investing in Bitcoin as soon as possible.  Rather it is to encourage those who have the opportunity and the means to do so to find realistic ways to improve their financial situation.  The key is to invest with financial security in mind.  Trying to earn extra income and fulfilling financial responsibilities are not contradictory  in fact one can reinforce the other if managed properly.

[Rockson1]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

When Satoshi Nakamoto created Bitcoin he never said it is for the rich or for the poor alone, so Bitcoin is for interested individuals that can figure out their discretionary income, i don't think that it is difficult for anyone to understand that, stable income might be important, but it is not what we need to start investing in Bitcoin, we have had this discussions in the past although for memory refreshing especially for those that still think that they must be financially stable before they can start investing, that is a wrong toll they have decided to take, discreationary income is what one needs to seek for to start, then getting more sources of income is also adviceble to enable you have an increased discretionary income that will help you achieve your set goal as you intended.

[Just Say]

Definitely since we are on a bitcoin discussion here, the absolute novice is advised to start buying bitcoins as soon as possible and continuously increase their bitcoin reserves.Even apart from this forum I give detailed discussions about Bitcoin to some people in my area where the main point is to start Bitcoin investing with basic knowledge and start it as soon as possible.

Doesn't this put your security at risk? I don't know what kind of people you discuss Bitcoin investment with, but if you are not close to them, promoting Bitcoin to them can put your security at risk. Because there is still a perception among people in society that owning Bitcoin means owning a lot of money. So don't attract terrorists by promoting Bitcoin randomly.

Teaching these people about Bitcoin doesn't put my security at risk because they are very trustworthy. Also another important point is that even when trying to teach them about Bitcoin, I never mention that I have Bitcoin holdings.Currently there is an increase in wrench attacks so everyone should be anonymous before teaching anyone about Bitcoin.

Knowledge about Bitcoin is of no value if you don't apply it. So it is advised that you learn a little but apply it in practice. The same is true in investing, start investing so that you can apply what you learn. If you don't start investing, you will not get a field to apply your knowledge.

Bitcoin knowledge is of no value if no one applies it but for exactly what purpose you want to acquire Bitcoin knowledge,(like investing or out of technical curiosity and looking for a source of income). Everyone can be able to invest even with a little learning about Bitcoin because we know that Bitcoin proponents argue that starting with basic knowledge can progress with Bitcoin holdings over time and also gain knowledge about other aspects of Bitcoin.

[JayJuanGee]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

For the sake of keeping the records straight, Bitcoin is for everyone because anyone can invest in Bitcoin irrespective of their gender, age, culture, religion and geographical location. But to invest in Bitcoin and be able to preserve the investment, certain things need to be put in place. This is where the idea of discretionary income comes into question because it is the only funds that an investor can out in Bitcoin without being perturbed. I wouldn't want us to go with the wrong idea that some Bitcoin is not meant for some people, even those without discretionary income today can have one tomorrow and be able to buy Bitcoin, which means Bitcoin is meant for them but time and situation is the factor.

I may not likely agreed with you that everyone, irrespective of age, can invest in Bitcoin. If someone is already very old, I would not advise such a person to invest in Bitcoin. Just imagine someone who is over 90 years old. How active will such a person be in managing their Bitcoin investment? And how long will they be able to hold their Bitcoin to enjoy the benefits of their investment?If someone is already very old, I think it would be better for them to use the money they have to take care of themselves and continue to enjoy their life. I believe that is the best approach.As for your other points, I think and agree that Bitcoin does not discriminate based on religion, gender. As long as people have discretionary income, they can invest in Bitcoin.

Of course the 90 year old example shows a guy that would be likely in his spending years and no longer accumulating wealth, unless he merely had a goal of passing on a legacy - which does not seem a practical thing to presume, even though surely there are some guys who have legacy as their back up plan in case they die prior to being able to start to live off of their investment.

The general idea with an investment like bitcoin might be that we have an accumulating period (which could be 4-10 years or longer), and then we would have a period that might be maintenance. which might not be increasing or decreasing the holdings, and maybe that would be 4-ish years, even though anyone could have bitcoin that they are able to spend from that are at least 4 years old... and then there would be a liquidation and/or sustainable withdrawal stage. 

Sustainable withdrawal  attempts to preserve the principle of the investment, and just live off the gains.. which would mean that the amount spent is lower than the ongoing amount gained on average each year, so if the investment is tending to gain 15% or more each year, then spending 10% per year or even less would mean that the underlying value of the principle is gaining in value faster than it is being spent.  Liquidation would be spending down the principle, so if a person had $1 million in value then he could spend $100k (plus any gains) to spend all the value down in 10 years.  Also if the quantity of the bitcoin were to be 12 bitcoin, then maybe the liquidation would require cashing out 1.2 bitcoin each year, no matter what the value of the bitcoin in terms of dollars, since the cash out amount would be 1.2 bitcoin per year.

The idea is that guys can attempt to budget their timeline for cashing out of their bitcoin if they get to a stack size that they want to transition into such cashing out and they can attempt to make their cashing out sustainable if they were to choose to try to do so. I think that bitcoin allows for potential for generous cashing out potentials for guys who build a decent stack size, yet there are some challenges that would come based on age and/or health, so it would not make a lot of sense to overly delay in cashing out in terms of practicalities of being able to advantage from the value being cashed out.

[Rhow]

There’s actually nothing wrong with the opinion you’re kicking against, so long as anyone can figure out their discretionary income then they can invest in bitcoin, they don’t have to compulsorily have a stable source of income before they can start investing.

Maybe you’re saying it’s not for everyone because there are folks who can’t afford to because they don’t have discretionary. But I’ll have you know that as soon as their discretionary is available then they can invest. So it’s basically open to everyone. You don’t need a job before you can buy bitcoin

For the sake of keeping the records straight, Bitcoin is for everyone because anyone can invest in Bitcoin irrespective of their gender, age, culture, religion and geographical location. But to invest in Bitcoin and be able to preserve the investment, certain things need to be put in place. This is where the idea of discretionary income comes into question because it is the only funds that an investor can out in Bitcoin without being perturbed. I wouldn't want us to go with the wrong idea that some Bitcoin is not meant for some people, even those without discretionary income today can have one tomorrow and be able to buy Bitcoin, which means Bitcoin is meant for them but time and situation is the factor.

I may not likely agreed with you that everyone, irrespective of age, can invest in Bitcoin. If someone is already very old, I would not advise such a person to invest in Bitcoin. Just imagine someone who is over 90 years old. How active will such a person be in managing their Bitcoin investment? And how long will they be able to hold their Bitcoin to enjoy the benefits of their investment?If someone is already very old, I think it would be better for them to use the money they have to take care of themselves and continue to enjoy their life. I believe that is the best approach.As for your other points, I think and agree that Bitcoin does not discriminate based on religion, gender. As long as people have discretionary income, they can invest in Bitcoin.

Bitcoin doesn't become worthless for someone just because they're older. Before you discourage someone from investing because they're older, you need to consider a few things. Before you discourage them, you need to distinguish whether the person is buying Bitcoin for their own expenses, or if they want to keep the wealth for their heirs. If that person is investing money that they will need urgently for their medical and living expenses, then your objection is valid. Because if they hold back their money just because the price will go up in the future, then their current needs may be in trouble.

However, if they have a financial plan and they want to keep some Bitcoin for their heirs, then I think their personal time frame is not the end of the investment. Of course, then they also need to have a plan to hold on to the wealth. An investment that is only for inheritance doesn't make it right for them. They need to consider how much risk they can take and how their heirs will get the wealth safely.

[Bluedrem]

Bitcoin doesn't become worthless for someone just because they're older. Before you discourage someone from investing because they're older, you need to consider a few things. Before you discourage them, you need to distinguish whether the person is buying Bitcoin for their own expenses, or if they want to keep the wealth for their heirs. If that person is investing money that they will need urgently for their medical and living expenses, then your objection is valid. Because if they hold back their money just because the price will go up in the future, then their current needs may be in trouble.

Age does not matter for investment. If a person has discretionary income despite being old, he can use it for investment. And since Bitcoin investment is long-term and most investors build a long-term Bitcoin portfolio considering the future of their successors, even if a person is old enough, he can still consider his next generation and create Bitcoin for the next generation. And if they do this, their next generation may also consider them wise for this because they can then get much more financial success for this investment.

[Baristotle]

Age does not matter for investment. If a person has discretionary income despite being old, he can use it for investment. And since Bitcoin investment is long-term and most investors build a long-term Bitcoin portfolio considering the future of their successors, even if a person is old enough, he can still consider his next generation and create Bitcoin for the next generation. And if they do this, their next generation may also consider them wise for this because they can then get much more financial success for this investment.

If we look at this from different angles, I don’t think an older person will simply follow the discretionary income path, for sure an older person already has a house and a car and maybe more so is it reasonable for an older person to trust Bitcoin enough to sell everything they own just to invest and wait for the big boom?